![]() Same expenses paid with tax-free educational assistance. Student fees unless required as a condition of enrollment or attendance. The following expenses do not qualify for any tax credit. This includes books, supplies, and equipment needed for a course of study. Qualified education expenses include amounts spent tuition and required fees and materials for course enrollment. What expenses are eligible for the American Opportunity credit? not been convicted of a felony drug offense.for at least one academic period is carrying at least ½ of the normal full-time workload for the course of study the student is pursuing.not have completed the first four years of post-secondary education as of the beginning of the taxable year.be enrolled in a program leading toward a degree, certificate or other recognized post-secondary educational credential.To be eligible for AOC, the student must: A taxpayer whose modified adjusted gross income is greater than $90,000 ($180,000 for joint filers) cannot claim the credit. ![]() The credit is reduced if a taxpayer’s modified adjusted gross income exceeds those amounts. Generally, a taxpayer whose modified adjusted gross income is $80,000 or less ($160,000 or less for joint filers) can claim the credit for the qualified expenses of an eligible student. How do I qualify for the American Opportunity Credit? Also, 40% of the credit (up to $1000) is refundable. (100% of the first $2,000 and 25% of the next $2,000 of qualified education expenses). What is the amount of the American Opportunity Credit? The American Opportunity Tax Credit is a credit for qualified education expenses paid for an eligible student for the first four years of higher education. American Opportunity Tax Credit (AOC) What is the American Opportunity Credit? ![]()
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