Education Tax Credit FAQS

Many college students are always caught in a balancing act between studying for their courses, working to pay expenses, and all enjoying the social activities that college life has to offer. This is often stressful and overwhelming to some. Well, wants to help relieve some of this financial burden by recommending the following tax credits below. 1040Return has helped several students receive their maximum refund because 1040 Return only asks you easy to answer questions so you do not ever have to fill out a complicated tax form on 1040Return. American Opportunity Credit Qualifications: Maximum credit: Up to $2,500 credit per eligible student. Limit on modified adjusted gross ¬†income (MAGI) $180,000 if married filing jointly; $90,000 if single, head of household, or qualifying widow(er) Refundable or nonrefundable 40% of credit may be refundable; the rest is nonrefundable Number of years of postsecondary education: Available ONLY if the student had not completed the first 4 years of postsecondary education before 2013Number of tax years credit available. Available ONLY for 4 tax years per eligible student (including any year(s) Hope Scholarship Credit was claimed) […]