IOHS: American Opportunity Tax Credit

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. You can get a maximum annual credit of $2,500 per

eligible student. If the credit brings the amount of tax you owe to zero,

you can have 40 percent of any remaining amount of the credit (up to

$1,000) refunded to you.

The amount of the credit is 100 percent of the first $2,000 of qualified

education expenses you paid for each eligible student and 25 percent of the

next $2,000 of qualified education expenses you paid for that student.

The school will 1098T's at the end of January to help you document your
expenses

so that your tax preparer can see what might help you

To claim AOTC, you must file a federal tax return, complete the Form 8863

and attach the completed form to your Form 1040 or Form 1040A. Use the

information on the Form 1098-T Tuition Statement, received from the

educational institution the student attended.

Use this link to print out the form

I am not a tax professional. Please seek advice on any tax questions from

a tax professional.

Best regards,

*Lynn Kuser-Trader RN BSN *
Faculty/Registrar
410-891-2517/fax 443-281-5562
Institute of Health Science
11031 McCormick Road
Hunt Valley, MD 21031

Institute of Health Sciences