Question

American Opportunity Credit

Forum|Forum|5 years ago
May 9, 2021
1 reply
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I would like to know why I didn't get the full American Opportunity Credit for 2020. My 21 yr old son who is my dependent is in his 4th year at an accredited university and he is a full-time student. He had 1098-T expenses of $5,167 and he didn't claim the credit. I filed a joint return with my spouse and our AGI was not over $180k. I have searched and can't find an explanation for why I didn't get the full credit.

S

SweetieJean

Employee

To claim the full credit, your modified adjusted gross income (MAGI) must be $160,000 or less for married filing jointly. It phases out until it reaches zero at $180,000. MAGI for most people is the amount of AGI, adjusted gross income, shown on your tax return. If you file Form 1040, you add the following amounts to your AGI:
- Foreign earned income exclusion,
- Foreign housing exclusion,
- Foreign housing deduction,
- Exclusion of income by bona fide residents of American Samoa, or of Puerto Rico.
Forty percent of the credit is refundable for most taxpayers.