Watch the Full Episode. Watch exclusive outtakes and interviews. Go behind the scenes. See cast photos. Hear from the cast and producers. Find out what you missed.
The new credit is currently available through 2017. The American Opportunity credit equals 100% of the first $2,000 of a studentâs qualified education expenses plus 25% of the next $2,000. The maximum annual credit is $2,500.
under 24 and their earned income was less than one-half of their own support; and (2) the taxpayer has at least one. living parent, and; (3) the taxpayer doesnât file a joint return. Note: There are two 4-year tests for American Opportunity Credit. First, the credit can be taken only four tax years. Second, the student must not have completed four years of academic credit before the beginning of this tax year. Follow.