@NCperson
Thanks for the detailed answer. You are correct about my son meets all 3 conditions you stated. I read the following "The American Opportunity Tax Credit is a tax credit to help pay for education expenses paid for the first four years of education completed after high school. You can get a maximum annual credit of $2,500 per eligible student and 40% or $1,000 could be refunded if you owe no tax. This credit is subject to income limitations."
My son will probably make like 8K to 10K this year, so sounds like even he he pays all of what he earned to college fees, he is not going to benefit from tax point of view or can he get like $1000.
In general does it make sense for me to claim him as dependant (not sure if I will get any benefit) and he will file taxes as he is earning. Or there are any advantages for him if I am not claiming him as dependent.
Also I am thinking if it makes sense for my son to put all his money in Roth IRA instead of paying as he pays very little tax now as I can help him with 100% expenses for his college.
Thanks for your time
