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So I know you can use the AOTC up to 4 times but is it always the same eligible amount annually? or is it 2500 of credit spread through out the 4 years?
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The American Opportunity tax credit is 100% of the first $2,000, plus 25% percent of the next $2,000 up to $2,500 for each of the four years.
If you qualify for the full credit for four years, you will receive $10,000 in total credits.
You can get up to $2500 of credit each year for up to $4000 of qualified education expenses paid out of pocket or with loans. If you are claimed as a dependent, the person claiming you would file for the credit.
$2500 x 4 years = $10,000.
The American Opportunity tax credit is 100% of the first $2,000, plus 25% percent of the next $2,000 up to $2,500 for each of the four years.
If you qualify for the full credit for four years, you will receive $10,000 in total credits.
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