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 2014,and Arethia is beginning her senior year at Northeast University during Fall 2014 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 2014.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 2014 is:

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The American Opportunity credit is available to both Devona and Arethia.Devona's American Opportunity credit is $2,500 [100% of the first $2,000 of qualifying expenses plus 25% of the next $2,000 of qualifying expenses;$2,000 + ($2,000 × 25%)].Arethia's American Opportunity credit is also $2,500 [100% of the first $2,000 of qualifying expenses plus 25% of the next $2,000 of qualifying expenses;$2,000 + ($2,000 × 25%)].As Jermaine and Kesha's AGI is not more than $160,000,no phaseout is required.Therefore,the total American Opportunity credit is $5,000.

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