Twins. On the American Opportunity Credit, it is only allowing 1,753 for one & 1,752 for the other, not 2500 each when both had 10,000 in expenses above scholarships?
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Twins. On the American Opportunity Credit, it is only allowing 1,753 for one & 1,752 for the other, not 2500 each when both had 10,000 in expenses above scholarships?
This is their first year of college so they have not claimed it for the 4 years previously
Twins. On the American Opportunity Credit, it is only allowing 1,753 for one & 1,752 for the other, not 2500 each when both had 10,000 in expenses above scholarships?
Only $1000 of the $2500 is refundable. If your tax on line 14 of form 1040 has already been reduced to 0, you will not get the rest. If that's not the reason, review the calculations of form 8863.
The refundable portion is on line 18c of form 1040.
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