To be eligible for AOTC, the student must:
- Be pursuing a degree or other recognized education credential
- Be enrolled at least half time for at least one academic period* beginning in the tax year
- Not have completed the first four years of higher education at the beginning of the tax year
- Not have claimed the AOTC or the former Hope credit for more than four tax years
- Not have a felony drug conviction at the end of the tax year
The AOC has two parts:
- the non-refundable part which can be up to $1,500
- and the refundable part which can be up to $1,000.
If your income is less than the standard deduction ($12,950 for a single person), then you have no taxable income and no tax liability, and you cannot benefit from the non-refundable part.
Also, if you can be claimed as a dependent by another taxpayer (even if you are not actually claimed), then you are not eligible for the refundable part.
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