Jermaine and Kesha are married,file a joint tax return,have AGI of $82,500,and have two children.Devona is beginning her freshman year at State University during Fall 2015,and Arethia is beginning her senior year at Northeast University during Fall 2015 after having completed her junior year during the spring of that year.Both Devona and Arethia are claimed as dependents on their parents' tax return.Devona's qualifying tuition expenses and fees total $4,000 for the fall semester,while Arethia's qualifying tuition expenses and fees total $6,200 for each semester during 2015.Full payment is made for the tuition and related expenses for both children during each semester.The American Opportunity credit available to Jermaine and Kesha for 2015 is:

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The American Opportunity Credit allows for a credit of up to $2,500 per eligible student, per year. In this case, both Devona and Arethia are eligible students, and they each have qualifying expenses for the year. However, the credit is limited to a maximum of four tax years per eligible student. Since Arethia is beginning her senior year, this means she has already claimed the credit for three previous years, leaving only one year remaining in which she can claim the credit. Therefore, the total credit available to Jermaine and Kesha for 2015 is $2,500 for Devona plus $2,500 for Arethia (since this is her last year eligible for the credit), for a total of $5,000.

Jermaine and Kesha Are Married,file a Joint Tax Return,have AGI