Warren and Erika paid $9,300 in qualified expenses for their son,Cash,to attend the University of Washington.Cash is in his first year of college and attended full-time.How much is Warren and Erika's American opportunity tax credit,without regard to any AGI limitation?

A) $0.
B) $1,800.
C) $2,500.
D) $9,300.

Question

Cailee Ansay · Accepted Answer

Final Answer : C, Explanation :  The American opportunity tax credit allows for a maximum credit of $2,500 per eligible student per year. Warren and Erika paid $9,300 in qualified education expenses, which meets the minimum requirement of $4,000 to receive the full credit. Therefore, they can claim the full credit of $2,500 for Cash's expenses.

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