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January 28, 2021
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How do we get the American opportunity credit it shows we qualify or is it already? included

  • January 28, 2021
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January 28, 2021

To see if you qualify for the American Opportunity Credit (AOC), see Who is eligible to take the American Opportunity Tax Credit?

 

To see if TurboTax included the AOC on your income tax return, see How do I preview my TurboTax Online return before filing? See the information below for the tax return forms, schedules and line numbers.

 

There are two parts to the American Opportunity Tax Credit (AOTC). The credit is split out in two different places on your income tax return.

 

The first is a maximum nonrefundable credit of up to $1,500. The nonrefundable credit can be up to $1,500, . 

  • It is on Form 1040, Schedule 3, line 3. Education credits from Form 8863. 
  • nonrefundable credit is subtracted from your income tax liability, up to the total amount you owe. But unlike a refundable tax credit, a nonrefundable credit cannot reduce your tax balance beyond zero. 
  • For additional information, click on What Is the Difference Between a Refundable and a Nonrefundable ...

The second is a refundable credit of $1,000. 

  • It is on Form 1040, line  29.  American opportunity credit from Form 8863.

Related information:

 

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