What is the American Opportunity Credit?

Category : Tax

Q1. Are there any changes to the tax credits for college expenses?

A. The American opportunity tax credit, which expanded and renamed the already-existing Hope credit, can be claimed for tuition and certain fees you pay for higher education in 2009 and 2010.

Q2. The Hope credit originally applied only to the first two years of college. Has that changed?

A. Yes. The American opportunity tax credit can be claimed for expenses for the first four years of post-secondary education.

Q3. How much is the American opportunity tax credit worth? → Continue