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Level 2
posted Feb 18, 2020 6:22:59 PM

Form 8863 American Opportunity Credit Line 23

I did search but need clarification.  I entered everything correctly  from the 1098 T but I mistakenly answered no on line 23 which asks:

Has the Hope Scholarship Credit or American opportunity

credit been claimed for this student for any 4 tax years

before 2019?

 

I actually had claimed it back in 2016.  I am not sure what the effect will be and will amend when I can.  

Reason I am concerned is because prior to plugging in the information, I was owing money, than I went to getting money back.  I assume I will not get the same back when I amend.   

 

Can anyone explain if I still would receive the same 2500 deduction regardless?

 

Thanks

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1 Best answer
Expert Alumni
Feb 18, 2020 8:15:23 PM

The American Opportunity and its predecessor the Hope Scholarship can only be claimed for four years total. So, for example, if you claimed the Hope for one year, you can only claim the AOTC for three additional years.

3 Replies
Expert Alumni
Feb 18, 2020 8:15:23 PM

The American Opportunity and its predecessor the Hope Scholarship can only be claimed for four years total. So, for example, if you claimed the Hope for one year, you can only claim the AOTC for three additional years.

Level 2
Feb 20, 2020 8:55:45 AM

Thanks-  What I missed was that it would only be a "yes" on line 23 if I had already claimed for the four times.  This is spelled out in the instructions- but it did not "click" until I re-read it in addition to your response too.  

 

PHEW- No need to amend- Thanks!!

Bret

Level 1
Apr 8, 2023 9:56:56 AM

Now I understand finally.  I read over again the IRS Form 8863 Line instructions.