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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.
The American Opportunity Credit provides taxpayers with deductions on certain tuition and higher education expenses. Under this credit opportunity, you can claim a deduction for the computer if the system is required for enrollment or attendance purposes. This deduction applies to the cost of computer purchase, as well as the equipment required to maintain and support the technology, such as Internet access.