The American Opportunity Tax Credit is a partially refundable tax credit first detailed in Section 1004 of the American Recovery and Reinvestment Act of 2009. The act specifies: 1.
* Provisions were originally specific to tax years 2009 and 2010, later extended, and finally made permanent by the Bipartisan Budget Act of 2015, for the first 4 years of post-secondary education. 2.
* Increases the Hope credit to 100 percent qualified tuition, fees and course materials paid by the taxpayer during the taxable year not to exceed $2,000, plus 25 percent of the next $2,000 in qualified tuition, fees and course materials. The total credit does not exceed $2,500. 3.
* 40% of the credit is refundable. 4.
* This tax credit is subject to a phase-out for taxpayers with adjusted gross income in e
Attributes | Values |
---|
rdf:type
| |
rdfs:label
| - American Opportunity Tax Credit (en)
|
rdfs:comment
| - The American Opportunity Tax Credit is a partially refundable tax credit first detailed in Section 1004 of the American Recovery and Reinvestment Act of 2009. The act specifies: 1.
* Provisions were originally specific to tax years 2009 and 2010, later extended, and finally made permanent by the Bipartisan Budget Act of 2015, for the first 4 years of post-secondary education. 2.
* Increases the Hope credit to 100 percent qualified tuition, fees and course materials paid by the taxpayer during the taxable year not to exceed $2,000, plus 25 percent of the next $2,000 in qualified tuition, fees and course materials. The total credit does not exceed $2,500. 3.
* 40% of the credit is refundable. 4.
* This tax credit is subject to a phase-out for taxpayers with adjusted gross income in e (en)
|
dcterms:subject
| |
Wikipage page ID
| |
Wikipage revision ID
| |
Link from a Wikipage to another Wikipage
| |
Link from a Wikipage to an external page
| |
sameAs
| |
dbp:wikiPageUsesTemplate
| |
has abstract
| - The American Opportunity Tax Credit is a partially refundable tax credit first detailed in Section 1004 of the American Recovery and Reinvestment Act of 2009. The act specifies: 1.
* Provisions were originally specific to tax years 2009 and 2010, later extended, and finally made permanent by the Bipartisan Budget Act of 2015, for the first 4 years of post-secondary education. 2.
* Increases the Hope credit to 100 percent qualified tuition, fees and course materials paid by the taxpayer during the taxable year not to exceed $2,000, plus 25 percent of the next $2,000 in qualified tuition, fees and course materials. The total credit does not exceed $2,500. 3.
* 40% of the credit is refundable. 4.
* This tax credit is subject to a phase-out for taxpayers with adjusted gross income in excess of $80,000 ($160,000 for married couples filing jointly). The act directs several Treasury studies: 1.
* Coordination with non-tax student financial assistance; 2.
* Coordinate the credit allowed under the Federal Pell Grant program to maximize their effectiveness at promoting college affordability; 3.
* Examine ways to expedite the delivery of the tax credit; 4.
* With the Secretary of Education, study the feasibility of requiring including community service as a condition of taking their tuition and related expenses into account. (en)
|
prov:wasDerivedFrom
| |
page length (characters) of wiki page
| |
foaf:isPrimaryTopicOf
| |
is Link from a Wikipage to another Wikipage
of | |
is Wikipage redirect
of | |
is Wikipage disambiguates
of | |
is foaf:primaryTopic
of | |