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Level 1

Question

AOTC

Forum|Forum|6 years ago
May 23, 2020
2 replies
7 views

What is the minimum amount of expenses paid to qualify for the AOTC?

Thanks

Level 15

There is no minimum amount of expenses to qualify for the AOTC. You want to enter all your expenses, however only the first $4000 of expenses will be used in calculating the credit.

More information can be found here:

Education Credits

American Opportunity Credit

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Level 15

Simple answer: $1.

The AOTC is 100% of the first $2000 of qualified expenses (tuition, fees, book and other course materials) and 25% of the next $2000 ($4000 maximum). So, the maximum AOTC is $2500 (40% of that, up to $1000, is refundable)