Kim paid the following expenses during November 2014 for her son Joshua's spring 2015 expenses,which begins in January 2015: In addition,Kim's sister paid $800 for college fees on behalf of Joshua directly to the college.Joshua is claimed as Kim's dependent on her tax return.How much of the paid expenses qualify for purposes of the education credit deduction for Kim in 2014?

Question

Kim paid the following expenses during November 2014 for her son Joshua's spring 2015 expenses,which begins in January 2015:  In addition,Kim's sister paid $800 for college fees on behalf of Joshua directly to the college.Joshua is claimed as Kim's dependent on her tax return.How much of the paid expenses qualify for purposes of the education credit deduction for Kim in 2014?

Quizplus · Accepted Answer

The expenses paid by Kim total $14,800 ($6,000 for tuition and fees + $4,000 for room and board + $4,800 for books and supplies). Since Joshua is claimed as Kim's dependent on her tax return, she can claim the education credit deduction for these expenses. The $800 paid directly by Kim's sister to the college cannot be claimed as an education credit deduction by Kim.

Kim Paid the Following Expenses During November 2014 for Her