Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps

Exercise 37

In each of the following cases, certain qualifying education expenses were paid during the tax year for individuals who were the taxpayer, spouse, or dependent. The taxpayer has a tax liability and no other credits. Determine the amount of American Opportunity Tax credit (AOTC) and/or lifetime learning credit that should be taken in each instance.
a) Single individual with modified AGI of $32,900 and expenses of $3,300 for a child who is a full-time college freshman.
b) Single individual with modified AGI of $44,500 and expenses of $3,800 for a child who is a full-time college junior.
c) Couple married filing jointly with modified AGI of $79,300 and expenses of $8,000 for a child who is a full-time graduate student.