Is the American opportunity credit in line 66 the same thing as the Education credit in line 49?

Forum|Forum|7 years ago
June 1, 2019
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In 2001, 2003, 2004, and 2005 I had claimed the Education Credit on my 1040 found on line 49/50. Back then there was no such thing as the American Opportunity Credit. I'm attending a 4 year university, last year in 2016 I paid over $20k for my first year in tuition.

Do I qualify for the American Opportunity Credit this year? Or because I claimed the Education Credit back before the American Opportunity Credit came out then I am not eligible for this credit?

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Best answer by Fern

Prior to 2009, the American Opportunity Credit was known as the Hope Scholarship Tax Credit. The Hope Scholarship Tax Credit was available starting in 1997.

In total, you are able to take either the American Opportunity Credit or the Hope Scholarship Tax Credit four times. If you used the Hope Credit in 2001, 2003, 2004 and 2005, you are not eligible for the American Opportunity Credit. You may still qualify for a Tuition and Fees deduction or a Lifetime Learning credit.

F

FernAnswer

Employee

Prior to 2009, the American Opportunity Credit was known as the Hope Scholarship Tax Credit. The Hope Scholarship Tax Credit was available starting in 1997.

In total, you are able to take either the American Opportunity Credit or the Hope Scholarship Tax Credit four times. If you used the Hope Credit in 2001, 2003, 2004 and 2005, you are not eligible for the American Opportunity Credit. You may still qualify for a Tuition and Fees deduction or a Lifetime Learning credit.