Question
What is the total amount of eligible education expenses, prior to any adjustments made for the purpose of the limit, that should be considered when calculating the Davises' lifetime learning credit?
their tuition and feeds were 16350 and they paid 1900 out of pocket for books
their tuition and feeds were 16350 and they paid 1900 out of pocket for books
Answers
GPT-4o mini
To calculate the total amount of eligible education expenses for the lifetime learning credit, you need to consider the qualified tuition and fees plus any expenses for required materials, such as books, that are necessary for the course.
According to the information provided by the Davises:
- Tuition and fees: $16,350
- Out-of-pocket expenses for books: $1,900
Now, add these two amounts together:
\[
\text{Total Eligible Education Expenses} = \text{Tuition and Fees} + \text{Books}
\]
\[
= 16350 + 1900
\]
\[
= 18250
\]
Therefore, the total amount of eligible education expenses that should be considered when calculating the Davises' lifetime learning credit is **$18,250**.
According to the information provided by the Davises:
- Tuition and fees: $16,350
- Out-of-pocket expenses for books: $1,900
Now, add these two amounts together:
\[
\text{Total Eligible Education Expenses} = \text{Tuition and Fees} + \text{Books}
\]
\[
= 16350 + 1900
\]
\[
= 18250
\]
Therefore, the total amount of eligible education expenses that should be considered when calculating the Davises' lifetime learning credit is **$18,250**.