American Opportunity Credit

The American Opportunity Tax Credit, which expanded and renamed the already-existing Hope scholarship credit, can be claimed for expenses paid for tuition, certain fees and course materials for higher education in 2009, 2010, 2011, and 2012.

The American Opportunity Credit

What Is It?

The new American Opportunity Tax Credit makes the Hope Credit available to a broader range of taxpayers, including many with higher incomes and those who owe no tax.  It also adds required course materials to the list of qualifying expenses and allows the credit to be claimed for four post-secondary education years instead of two.  Many of those eligible will qualify for the maximum annual credit of $2,500.00 per student.

For more information visit American Opportunity Credit: Questions and Answers on the IRS.gov website.