Bryce and shay are married file a joint tax return have agi

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1. Nick and Bethany are married and file a joint tax return claiming their two children, ages 12 and 9 as dependents. Their AGI for 2010 is $112,000. Nick and Bethany's child tax credit for 2010 is:

a. $0.

b. $1,800.

c. $1,900.

d. $2,000.

e. None of the above.

2. Bryce and Shay are married, file a joint tax return, have AGI of $145,000, and have two children. McKenzie is beginning her freshman year at Public University during Fall 2010, and Cindy is beginning her senior year at Southwestern University during Fall 2010 after having completed her junior year during the spring of that year. Both McKenzie and Cindy are claimed as dependents on their parents' tax return. McKenzie's qualifying tuition expenses and fees total $7,500 for the fall semester, while Cindy's qualifying tuition expenses and fees total $9,250 for each semester during 2010. Full payment is made for the tuition and related expenses for both children during each semester. What amount of education tax credit should be taken for these higher education costs?

a. $-0-

b. $2,500

c. $4,000

d. $5,000

e. None of the above.

Reference no: EM13577215

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