American opportunity credit
You can enter American Opportunity credit information in the
Eligible student information
statement on the Educate
screen, in the Educate
folder.Amount of Credit / Refundable Amount
The maximum credit per student is $2,500 (100% of the first $2,000 and 25% of the next $2,000 of qualified education). The credit is available for the 1st 4 years of postsecondary education and 40% of the credit (up to $1,000) is refundable for many taxpayers.
The amount of your credit for 2009 is gradually reduced (phased out) if your changed adjusted gross income (MAGI) is between $80,000 and $90,000 ($160,000 and $180,000 if you file a joint return). You can't claim this credit if your MAGI is $90,000 or more ($180,000 or more if you file a joint return).
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