Sam Paid the Following Expenses During October 2014 for His

question 78

Multiple Choice

Sam paid the following expenses during October 2014 for his son Aaron's spring 2015 college expenses: Spring 2015 semester begins in January 2015: In addition,Aaron's uncle paid $500 for college fees on behalf of Aaron directly to the college.Aaron is claimed as Sam's dependent on his tax return.How much of the paid expenses qualify for purposes of the education credit deduction for Sam in 2014?

• A) $3,500.
• B) $11,500.
• C) $18,000.
• D) $18,500.

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Definitions:

Bubble Gum

A type of chewing gum designed to be inflated out of the mouth as a bubble.

Income

Money received, especially on a regular basis, for work or through investments.

Blue Currency

Informal term possibly referring to a foreign currency held in accounts outside the country of origin, often in a stronger, more stable currency.

Ambrosia

In classical mythology, the food of the gods, believed to convey immortality; in contemporary contexts, a type of fruit salad.