Education

The eligibility requirements for the American Opportunity Credit are as follows:

• Be pursuing a degree or other recognized education credential
• Be enrolled at least half-time or at least one academic period* beginning in the tax year
• Not have finished 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

There is also a phase-out period if the following is met for 2022:

• Single taxpayers with adjusted gross income between $80,000 and $90,000.
• Joint tax filers when adjusted gross income is between $160,000 and $180,000.
• The credit is unavailable to taxpayers whose adjusted gross income exceeds the $90,000 and $180,000 thresholds.

If you do not fall in the phase-out period and meet all the requirements, follow these steps to claim the credit in TurboTax:

1. Click Deductions & Credits
2. Scroll down to Education, Select Start next to 1098-T
3. Answer interview questions

For more information, see the link below:

American Opportunity Credit

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