(Solution) - In December 2014 Jeremy and Celeste paid the following amounts -(2025 Original AI-Free Solution)
Paper Details
In December 2014, Jeremy and Celeste paid the following amounts for their daughter, Alyssa, to attend University of Colorado, during 2014-2015. Alyssa was in her first year of college and attended full-time:
Tuition and fees (for fall semester 2014) ?????????. $1,950
Tuition and fees (for spring semester 2015) ???????? 1,000
Books ??????????????????????.. 600
Room and board ??????????????????.. 1,200
The spring semester at University of Colorado begins in January. In addition to the above, Alyssa?s uncle Devin sent $800 as payment for her tuition directly to the University. Jeremy and Celeste have modified AGI of $165,000. What is the amount of qualifying expenses for purposes of the American opportunity tax credit (AOTC) in 2014? What is the amount of the AOTC that Jeremy and Celeste can claim based on their AGI?