In the Fall of 2014,James Went Back to School to Earn

question 25

Multiple Choice

In the fall of 2014,James went back to school to earn a master of accountancy degree.He incurred $7,000 of qualified educational expenses and his modified AGI for the year was $40,000.His Lifetime Learning Credit is

• A)$1,000.
• B)$1,400.
• C)$1,800.
• D)$2,500.

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Definitions:

Evaluate

The process of calculating the value of an expression.

Calculate

To ascertain by mathematical methods; to solve or compute.

Verify

To check or test the accuracy, truth, or quality of something.

Verify

To confirm the accuracy, truth, or validity of something through examination or comparison.