Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Education Credits Workout

Qualifying Expenses

Skills Warm Up: Excluded Amounts

Question 1 of 1

This tax year, Tom's parents paid $5,000 of their own funds to cover all the cost of his college tuition. Tom also received a Pell grant for $3,000 and a student loan for $2,000. Tom's parents opted to apply the Pell grant of $3,000 toward the living expenses. For purposes of figuring an education credit, what are Tom's parents' total qualified tuition and related expenses?

A $10,000
B $7,000
C $5,000
D $2,000


Pub 4012 Determining Qualified Education Expenses
Publication 970

Pub 4012 Determining Qualified Education Expenses

Publication 970