You'll need to sign in or create an account to connect with an expert.
Did you get the credit in 2019, 2020, or 2021?
According to the State of Maine:
"For tax year 2022, the refundable credit is equal to eligible education loan payments plus the amount of unused EOTC amounts* carried forward from prior tax years that does not exceed the 10-year carryforward limit, up to $2,500 (up to $25,000 lifetime). Except, a onetime election may be made to claim up to $3,500 for either tax year beginning in 2022 or 2023, by qualified individuals who received an educational opportunity tax credit during any tax year beginning in 2019, 2020, or 2021 that was based on loans acquired to obtain a bachelor’s STEM degree or an associate STEM degree. The one-time increase in the annual maximum credit, up to $1,000, does not apply against the $25,000 lifetime credit limit.
*Unused EOTC carryforward amounts may be claimed only for tax years beginning before January 1, 2027."
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
shah123
Level 2
ScottM4400
Level 1
Avickowski1
New Member
DR2003
New Member
csdl2024
Level 3
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.