You are not a citizen until you are sworn in. If you are denied because of failure to pass the English or the civics test, you will be automatically rescheduled within 90 days. If you are not approved for some other reason, you may be given time to overcome the problem.
For 2009, the American Opportunity Credit--which is a variation of the Hope Credit--will be allowed for 4 years. For years before and after the new credit is allowed, the Hope credit is supposed to be for 2 years.
But only one Lifetime Learning Credit can be claimed per return. The American Opportunity Tax Credit, however, imposes a requirement that the student for whom the credit is claimed has no felony drug convictions. The Lifetime Learning Credit has no such requirement. We will assume for now that the taxpayer has decided to go ahead and calculate the amount he or she can claim for an American Opportunity Tax Credit. The next question to ask is whether a taxpayerâs adjusted gross income (AGI) falls beneath the phase-out limit.