Jeffery and Cassie,who are married with modified AGI of $90,000,are sending their son to his first year of college.Their total tuition and related payments during 2013 amounted to $5,500.They have not taken advantage of any other type of tax benefit related to educational expenses.Their American Opportunity Tax Credit for 2013 is

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The American Opportunity Tax Credit allows for a credit of up to $2,500 per eligible student for the first four years of post-secondary education. The credit starts to phase out for taxpayers with a modified AGI of $80,000 ($160,000 for married filing jointly) and is completely phased out at a modified AGI of $90,000 ($180,000 for married filing jointly). Since Jeffery and Cassie have a modified AGI of $90,000, they are eligible for the full $2,500 credit.

Jeffery and Cassie,who Are Married with Modified AGI of $90,000,are