What is the total american opportunity & lifetime tax credit the jones family can take, given the following information?
1) sally is a sophomore and incurs $5,000 in education expenses.
2) tommy is in grad school and incurs $7,000 in education expenses.
3) mom, who has a 4 year degree, goes back to school and incurs $4,000 in education expense
a-american opportunity tax credit is $1,650 & lifetime learning credit is $2,200.
b-lifetime learning credit is $1,650 & american opportunity tax credit is $2,200.
c-american opportunity tax credit is $2,500 & lifetime learning credit is $2,000.
d-lifetime learning credit is $2,500 & american opportunity tax credit is $2,000.
Answers: 2
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