American Opportunity Tax Credit (AOTC)

The American Opportunity Tax Credit (AOTC) is a tax credit for qualified education expenses paid for an eligible student. The credit is worth up to $2,500 per year, and it can be claimed for four years of college or other post-secondary education.

To qualify for the AOTC, you must be a U.S. citizen or resident, and you must have earned income. The student must also be enrolled at least half-time in a degree or certificate program at an eligible educational institution.

The AOTC is a refundable credit, which means that you can claim it even if you don't owe any taxes. If you claim the full credit, you will receive a refund of up to $2,500.

The AOTC is a great way to save money on college costs. If you qualify, be sure to claim the credit on your tax return.

Here are some additional details about the AOTC:

• The credit is available for students who are enrolled in a degree or certificate program at an eligible educational institution.
• The credit is worth up to $2,500 per year, and it can be claimed for four years of college or other post-secondary education.
• The credit is refundable, which means that you can claim it even if you don't owe any taxes.
• To claim the credit, you must file a tax return and meet the eligibility requirements.
• The AOTC is a great way to save money on college costs. If you qualify, be sure to claim the credit on your tax return.

If you have any questions about the AOTC, you can contact the IRS or your tax advisor.