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American Opportunity Credit

American Opportunity credit - Carry forward ?

Answer:

Any unused American Opportunity credit cannot be carried forward to future years.
The phase out for married taxpayers is Adjusted Gross Income between $160,000- $180,000.
The phase out is between $80,000 and $90,000 for single, head of household or qualifying widower(s) filing status taxpayers.
Married filing separately status are not allowed a American Opportunity credit.
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Answer Provided by: CPAdirectory

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