Hey, the American Opportunity Tax Credit (AOTC) has increased!
The maximum benefit is up to $2,500 credit per eligible student.
40% of the credit is refundable.
The limit on MAGI for single, head of household, or qualifying widow(er) is $90,000 and $180,000 for married filing jointly
> IF YOU ARE MARRIED FILING SEPARATELY, YOU CANNOT CLAIM THE CREDIT!!! <
This could be a fantastic opportunity for you if your child is already enrolled in college, or if they will be starting college next year. If so, please let me know what steps we can take together to make sure they get this credit!
PS: Be sure to have a copy of Form 1098-T, Tuition Statement.
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