Tanya, age 28, and Eddie, age 30, are married. They file a j…

Tanya, age 28, and Eddie, age 30, are married. They file a joint return and their taxable income for 2026 is $120,000. Compute the tax on their taxable income using the tax rate schedule below. If taxable income is over But Not Over Pay % Of Amount Over $0 $24,800   10 $0 $24,800 $100,800 $2,480 12 $24,800 $100,800 $211,400 $11,600 22 $100,800 $211,400 $403,550 $35,932 24 $211,400 $403,550 $512,450 $82,048 32 $403,550 $512,450 $768,700 $116,896 35 $512,450 $468,700 No Limit $206,583.50 37 $768,700  

Alistair and Ling Parks are married and file jointly. Their…

Alistair and Ling Parks are married and file jointly. Their MAGI for this year is $72,000. They have two dependent children: Hana, who is completing her second year of college and is enrolled full-time in a degree program with no felony drug conviction, and Jiro, who is a licensed electrician taking a continuing education course to improve his job skills at a local community college. Alistair and Ling paid $4,500 in qualified tuition for Hana and $3,000 for Jiro’s course. What is the maximum combined education credit the Parks may claim for this year?