The American opportunity tax credit (AOTC) is a credit for qualified education expenses paid for an eligible student for the first four years of higher education. You can get a maximum annual credit of $2,500 per eligible student, and 60% of the credit is non-refundable which is used to lower liabiltiy and the remaiming 40% will be refunded on the return.
You may not claim AOTC credit for the tuition paid at higher educational institution; if your scholarship was more than the tuition and the difference may be taxable on your income tax return.
You can delete the form:
- Login to Turbo Tax.
- In Tax Home Screen, click Tax Tools, then Tools.
- Under Tax Tools Center, scroll down and click delete a form
- Under Review List, scroll down and choose 1098-T, click delete
See, American Opportunity Credit.
