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Jeremy and Celeste paid the following for their daughter, Al

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49. Jeremy and Celeste paid the following for their daughter, Alyssa, to attend University of Colorado, during 2009. Alyssa was in her first year of college and attended full-time: 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 Hope credit? What is the amount of Hope credit that Jeremy and Celeste can claim based on their AGI?

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What is the amount of qualifying expenses for purposes of the Hope credit?

In 2009, the maximum for the Hope Credit was $1,800. This would be based on her actual expenses. The Hope credit gives the taxpayer 100% of the first $1200 paid in expenses, and 50% of the remaining amount, up to a limit of a total credit of ...

Solution Summary

Jeremy and Celeste paid the following for their daughter, Alyssa, to attend University of Colorado, during 2009. Alyssa was in her first year of college and attended full-time: 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 Hope credit? What is the amount of Hope credit that Jeremy and Celeste can claim based on their AGI?

$2.19