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American Opportunity Credit/Hope Credit

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    American Opportunity Credit/Hope Credit

    The American opportunity credit replaces the Hope education credit for most taxpayers for tax years 2009 & 2010. It can be claimed for the first 4 years of post secondary education and claimed for up to 4 tax years. The maximum credit is $2500, and up to $1,000 of it may be refundable. Includes computer technology and equipment, and Internet access and related service fees.

    My question: What if you have a student that has claimed the Hope Credit for the 1st two years and the LLC for the third year, can he now claim the AOC credit for the final year?

    #2
    Originally posted by zeros View Post

    My question: What if you have a student that has claimed the Hope Credit for the 1st two years and the LLC for the third year, can he now claim the AOC credit for the final year?
    I plan to do it as that is how I read the law.

    Comment


      #3
      Anything new on books qualifying regardless of where they are purchased?

      I understand that they do qualify.

      Comment


        #4
        Aoc

        The way I understan dit you can claim a combination of four years of Hope and AOC.
        Yes, books and supplies qualify for AOC. They no longer have to be part of the amounts billed by teh university.

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