Julien and Sarah Are Married,file a Joint Return,and Have Two

question 49

Essay

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 $126,000 for 2018?

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Definitions:

Performance Measure

Metrics or indicators used to assess and quantify the efficiency, effectiveness, and performance of an organization or individual.

Improvement

The process of making something better or increasing its value, often referring to property or performance enhancements.

Operating Assets

Assets that are used in the day-to-day operations of a business to generate revenue.

Return On Investment

A financial metric used to evaluate the efficiency of an investment, calculated as net profit divided by the cost of the investment.