The American Opportunity Credit is one of three tax breaks designed to help make paying for higher-education expenses more affordable for Americans. While it’s potentially the most lucrative of the three, it also has the most restrictions. Here’s what you need to know about the credit, how to determine if you qualify, and the other tax breaks available if you don’t meet the American Opportunity Credit’s strict requirements.
The American Opportunity Tax Credit is designed to help low- to middle-income taxpayers afford higher-education expenses, either for themselves or a dependent.