American Opportunity or Hope Credit ever received?

[chapinreyes]

Hello,

Where do we find out if the American Opportunity or Hope credit was received in prior years?

[Hal_Al]

From your own records or your parent's tax records.  The times you parents claimed the Hope or AOC, while you were their student-dependent counts against your 4 time limit.  The Hope/AOC has been around for over 20 years. Starting with tax year 2009, the Hope credit was supplanted by the more generous American Opportunity Tax Credit.

[chapinreyes]

Hello Hal_Al,

ok great and thank you so much for the response.  Is there a specific form and line number where I can find it?

[Hal_Al]

Yes, but the line #, on form 1040, has changed over the years.  The refundable portion was a separate line from the non-refundable part and would be near the end of all the lines and specifically identified as "American opportunity credit from Form 8863, line...." .

Form 8863 should have been an attachment each year it was claimed.

[chapinreyes]

Thank you so much Hal_Al!

We will take a look and will search form 8863.  Will this show both credits: American Opportunity and Hope Credit or either?  

[Hal_Al]

Q.  Will form 8863 show both credits: American Opportunity and Hope Credit or either?

A.  Yes. Prior to 2009, the Hope credit will show. 2009 onward, it will be the AOC. 

[chapinreyes]

Hello!

Just to be clear, in order to qualify for the American Opportunity Credit  you must not have completed a 4 years of college and at leas half-time workload?

How do you qualify for the Lifetime Learning Credit?

[Hal_Al]

Q. Just to be clear, in order to qualify for the American Opportunity Credit  you must not have completed a 4 years of college and at leas half-time course load?

A.  The completed is of Jan 1 of the  tax year.  So, if you graduated May of 2021, you can claim it on your 2021 return (unless you claimed it 4 times previously).

Q. How do you qualify for the Lifetime Learning Credit?

A. No restrictions other than the school must be an "eligible institution".