Julien and Sarah Are Married, File a Joint Return, and Have

question 77

Short Answer

Julien and Sarah are married, file a joint return, and have two children, Kaya and Christopher. Kaya just finished her third year at college and Christopher just finished his first year of graduate school (fifth year of college). Tuition and books for the past year were $1,800 for Kaya and $5,000 for Christopher. How much can Julien and Sarah claim in educational credits if their joint AGI was $120,000 for 2014?

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Definitions:

Expense Transactions

Financial transactions that represent the costs incurred by a business in the course of its operations.

New Transaction

A recent or upcoming financial event that is recorded or needs to be recorded in an accounting system.

Online Form

An online form is a digital document designed to collect data from users over the internet, often used for registrations, surveys, or transactions.

Onscreen Forms

Digital versions of forms that can be filled out directly on a computer or mobile device screen.