college tax credits

[tedandniklucas]

Is the opportunity and hope credit the same as the nonrefundabel college credit on the 8863.

[MinhT1]

Yes. The American Opportunity tax credit was an expansion of the Hope credit enacted in 2009.

[tedandniklucas]

On the 8863 there is part I and part II.  We have received the non-refunable credit in part II in the past 2 years. So when turbo tax asks have you received the Opportunity credit do I answer yes? That is in part I

[Critter-3]

No the AOC  is partially refundable and partially non refundable ... you need to look at the prior year 8863 form to see which one you used ...  

[ReneeM7122]

It depends.  Check last year's 1040.  The re-fundable part of the credit appears on Form 1040 or 1040-SR, line 18c. 

[tedandniklucas]

If the last two years we had the refundable education credit can we change this year for the opportunity fund?

[Critter-3]

Ok ... since the LLC is never refundable  then you HAVE been using the AOC.  Again look at the form for confirmation.