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Business, 16.04.2020 20:45 BonnyRios

Jenna Rosen, a longtime client of yours, is an architect and president of the local Rotary chapter. To keep up to date with the latest developments in her profession, she attends continuing education seminars offered by the architecture school at State University. This year, Jenna spends $2,000 on course tuition to attend such seminars. She spends another $400 on architecture books during the year. Jenna's dependent daughter Caitlin is a senior majoring in engineering at the University of the Midwest. During the calendar year, Jenna incurs the following expenses for Caitlin's higher education: $8,200 for tuition ($4,100 per semester) and $750 for books and course materials. Caitlin lives at home while attending school full-time. Jenna is married, files a joint return, and reports a combined AGI with her husband Morrie of $118,000.a. (1) Classify each of the following costs as "Eligible" or "Not Eligible" for an education tax credits through the American Opportunity credit or the lifetime learning credit.

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