Education Credit FAQs-The HUB - Carnegie Mellon University

Education Credit FAQs

For additional information, please visit the Internal Revenue Service (IRS) website.

Have there been any changes in the past few years to the tax credits for college expenses?

The Hope Scholarship credit originally applied only to the first two years of college. Has that changed?

How does the American Opportunity tax credit differ from the Hope Scholarship credit and Lifetime Learning credit?

How much is the American Opportunity tax credit worth?

What are qualified expenses for purposes of the education tax credits?

What additional education expenses qualify for the American Opportunity tax credit?

Does an expenditure for a computer qualify for the American Opportunity tax credit?

How is the American Opportunity tax credit calculated?

How will the American Opportunity tax credit affect my income tax return?

Who can claim the American Opportunity tax credit?

What is "modified adjusted gross income" for the purpose of the American Opportunity tax credit?

Who is an eligible student for the American Opportunity tax credit?

If a student was an undergraduate during the first part of the taxable year and became a graduate student that same year, will the student qualify for the American Opportunity tax credit?

I'm just beginning college this year. Can I claim the American Opportunity tax credit for all four years I pay tuition?

How does a taxpayer claim an education tax credit?

Can I claim the tuition and fees tax deduction in addition to claiming the American Opportunity tax credit?

What is Form 1098-T, Tuition Statement, and who provides it?