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May 19, 2020
Question

Do we have to pay back American Opportunity Credit? and How?

  • May 19, 2020
  • 2 replies
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2 replies

Employee
May 19, 2020

You do not have to pay back that credit. 

Hal_Al
Employee
May 19, 2020

Start with why.

Why do you think you need to pay back American Opportunity Credit?  If you do not qualify for it, do you qualify for the other credit or deduction?

 

If you do need to pay it back, you file an amended tax return, unclaiming the credit.  The amended return will result in an amount you owe on line 20 of form 1040X.  You enclose a check for that amount.