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American Opportunity Credit

American Opportunity Credit


A credit is available up to $2,500 per student for the first 4 years of higher education for tuition, course related books, activity fees and any equipment that must be purchased from the educational institution as a condition of enrollment. Room & Board expenses do not qualify.
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.
Answer Provided by: CPAdirectory

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