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The American opportunity tax credit (AOTC) is a credit for qualified education expenses paid for an eligible student for the first four years of higher education. You can get a maximum annual credit of $2,500 per eligible student.
The American opportunity credit allows taxpaying students or their parents the opportunity to reduce the cost of attending college. The credit typically offers greater tax savings than other education related tax benefits since it reduces the tax you owe on a dollar-for-dollar basis rather than just reducing the amount of income subject to tax.
What Is the American Opportunity Tax Credit (AOTC)? The American Opportunity Tax Credit (AOTC) is a tax credit for qualified education expenses associated with the first four years of a student’s...
Find answers to common questions about the education credits, including the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC).
Education credits like the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC) can help with the cost of higher education. See if you qualify.
The American opportunity tax credit, or AOTC, is an education tax credit to offset qualified education expenses incurred by an eligible student during the first four years of higher education.
Qualifications for claiming the American Opportunity Tax Credit are: You paid an eligible student's qualified education expenses for higher education at any college, university, or vocational school with a student aid program administered by the US Department of Education.
Find out if you may be one of the students who’s eligible for an education tax credit on your school expenses. What is the American Opportunity Tax Credit? Who qualifies for the American Opportunity Tax Credit? Which education expenses are eligible? How do I calculate my credit amount?
For tax paying students and parents alike, the AOTC allows a maximum credit of $2,500 of the cost of qualified tuition, fees, and course materials paid during the tax year per student. What’s more, the American Opportunity Credit is a partially refundable education tax credit.
The American Opportunity Tax Credit is a partially refundable tax credit for eligible education expenses. The maximum annual American Opportunity Tax Credit is $2,500 per eligible student. Postsecondary education isn’t cheap, but it can be worth the cost.