topic AOTC in Deductions & credits

AOTC

nnatikid — Sat, 23 May 2020 18:06:58 GMT

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

Thanks

Re: AOTC

CatinaT1 — Tue, 26 May 2020 11:38:20 GMT

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

Re: AOTC

Hal_Al — Tue, 26 May 2020 12:33:01 GMT

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)