Bradley has two college-age children, Clint, a freshman (his first year in college) at State University, and Abigail, a junior at Northwest University (her third year of college). Both Clint and...

Bradley has two college-age children, Clint, a freshman (his first year in college) at State University, and Abigail, a junior at Northwest University (her third year of college). Both Clint and Abigail are full-time students. Bradley is in graduate school.​

• Clint’s expenses for the year are as follows: $3,200 tuition and $500 books and course materials.


• Abigail’s expenses for the year are as follows: $7,200 tuition, $1,200 books and course materials, and $4,500 room and board.


• Bradley paid $5,000 of tuition for graduate school and $600 for books.


• Bradley is married, files a joint tax return, claims both children as dependents, and has a combined AGI with his wife of $139,000 for 2020. Bradley has determined that the available education credits are more beneficial than the available deductions.

​

Determine the following:

A. Clint:

1. Which credit should he take?


2.  Total eligible expenses:


3.  Show calculation of maximum credit allowed:

B.
Abigail:

1. Which credit should she take?


2. Total eligible expenses:


3.  Show calculation of maximum credit allowed:

C. Bradley

1. Which credit can he take?


2.  Total eligible expenses:


3.  Show calculation of maximum credit allowed: