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Tom and Anita Are Married, File a Joint Return with an AGI

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Tom and Anita are married, file a joint return with an AGI of $165,000, and have one dependent child, Tim, who is a first-time freshman in college. The following expenses are incurred and paid in 2016:
 Tuition, fees and textbooks $11,000 Room and board $5,000\begin{array}{ll}\text { Tuition, fees and textbooks } & \$ 11,000 \\\text { Room and board } & \$ 5,000\end{array}
What is the maximum education credit allowed to Tom and Anita?

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Tim is eligible for the American Opportu...

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