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March 6, 2023
Question

How do I know if I have ever received the American Opportunity Credit and/or Hope Credit?

  • March 6, 2023
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March 6, 2023

The American opportunity tax credit (AOTC) is a credit for qualified education expenses paid for an eligible student for the first four years of higher education.

Taxpayers use Form 8863 to figure and claim their education credits, which are based on qualified education expenses paid to an eligible postsecondary educational institution.  Depending on your adjusted gross income (AGI), up to 40% of the American opportunity credit can be refundable.

The refundable amount will show on line 8 and will carry over to Form 1040 or 1040-SR, line 29. The non refundable amount will show on form 8863 line 19.

 

If you prepared your prior year return with TurboTax, you can access your returns to check how many years you claimed the credit.

How do I view, download, or print a prior-year return?

 If you didn't use TurboTax, you can request a transcript from the IRS website. 

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