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  2. Taxes 2023: Credits, deductions and tax breaks for student ...

    www.aol.com/finance/taxes-2023-credits...

    The American Opportunity Tax Credit allows you to lower your income tax bill by up to $2,500 per student, per year on undergraduate tuition, fees and books. Room and board, though, don’t count ...

  3. Tax tips for college students and their parents

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    Claim all eligible college and other education tax credits. There are two kinds of education tax credits. The American opportunity credit is for up to $2,500 a year (based on at least $4,000 spent ...

  4. American Opportunity Tax Credit - Wikipedia

    en.wikipedia.org/wiki/American_Opportunity_Tax...

    On January 6, 2009, Congressman Chaka Fattah introduced H.R.106, The American Opportunity Tax Credit Act of 2009. [3] In brief, the proposed act specified. Any full-time college or university student is eligible. According to the IRS, the American Opportunity Credit cannot be taken by a taxpayer if he has a felony drug conviction.

  5. Did You Go to College Last Year? Check Out These Education ...

    www.aol.com/did-college-last-check-education...

    For example, in Massachusetts you may be able to take a tax deduction based on tuition payments that you make to a qualified two- or four-year college or university. Not every state offers ...

  6. 529 plan - Wikipedia

    en.wikipedia.org/wiki/529_plan

    Paying college expenses directly from a 529 account may reduce eligibility for the American Opportunity Tax Credit, due to IRS coordination restrictions. To claim the full credit (in addition to meeting other criteria, such as income limits), $4,000 of college tuition and textbook expenses per year should be paid from non-529 plan funds.

  7. American Opportunity Tax Credit: What Is It and Who Qualifies?

    www.aol.com/american-opportunity-tax-credit...

    The cost of attending college can be a major financial burden on students and their families. The average costs for tuition, books, supplies and daily living expenses reached $36,436 in 2023,...

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