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Business, 09.04.2021 02:20 natd299736

Jenna, 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. During 2020, Jenna spends $2,000 on course tuition to attend these seminars. She also spends another $400 on architecture books during the year. Jenna's daughter, Caitlin, is a senior majoring in engineering at the University of the Midwest. During the 2020 calendar year, Caitlin incurs the following expenses: $8,200 for tuition ($4,100 per semester) and $750 for books and course materials. Caitlin, who Jenna claims as a dependent, lives at home while attending school full-time. Jenna is married, files a joint return, and has a combined AGI with her husband of $120,000. a. Calculate Jenna's education tax credit for 2018
b. In her capacity as president of the local Rotary chapter, Jenna has asked you to make a 30- to 45-minute speech outlining the different ways the tax law helps defray (1) the cost of higher education and (2) the cost of continuing education once someone is in the workforce. Prepare an outline of possible topics for presentation. A tentative title for your presentation is "How Can the Tax Law Help Pay for College and Continuing Professional Education?"

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