Burton and Kay are married,file a joint return with an AGI of $116,000,and have one dependent child,Tyler,who is a full-time student in a Master of Accountancy program.The following expenses relate to his costs of attendance in 2017:
The tuition noted above is the gross amount charged before reduction for his $5,000 tuition scholarship.What is the maximum education credit allowed to Burton and Kay?
Definitions:
Monsoon
Refers to winds that reverse directions depending on the season.
Land Breeze
A local wind that blows from the land to the sea due to higher- pressure air over the land.
Offshore Breeze
A wind that blows from the land towards the sea, typically during the day due to temperature differences.
Low Pressure
An area where the atmospheric pressure is lower than that of the surrounding regions, often leading to poor weather conditions.
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