About: American Opportunity Tax Credit

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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

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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	Personal taxes in the United States Taxation in the United States Education finance in the United States Tax credits Student financial aid in the United States
Wikipage page ID	20574982 (xsd:integer)
Wikipage revision ID	1068155658 (xsd:integer)
Link from a Wikipage to another Wikipage	American Association of Community Colleges 501(c)3 organization President of the United States Benjamin Banneker Academic High School United States Congress United States Department of the Treasury University of Oklahoma Internal Revenue Code Tax credit Personal taxes in the United States Taxation in the United States Community service Student and Family Tax Simplification Act (H.R. 3393; 113th Congress) Hope credit Barack Obama Education finance in the United States K20 Center American Recovery and Reinvestment Act of 2009 Tax credits Harris Wofford Student financial aid in the United States Chaka Fattah Post-secondary education dbr:Institute_for_Higher_Education_Policy dbr:PennSERVE
Link from a Wikipage to an external page	https://www.irs.gov/credits-deductions/individuals/aotc https://www.irs.gov/newsroom/american-opportunity-tax-credit-questions-and-answers
sameAs	American Opportunity Tax Credit American Opportunity Tax Credit American Opportunity Tax Credit American Opportunity Tax Credit
dbp:wikiPageUsesTemplate	dbt:Reflist dbt:Short_description dbt:USBill dbt:USPL
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)
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page length (characters) of wiki page	7633 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:American_Opportunity_Tax_Credit
is Link from a Wikipage to another Wikipage of	Tax policy and economic inequality in the United States Tax credit Student and Family Tax Simplification Act Hope credit 529 plan American opportunity tax credit Form 1098-T Tax return AOTC Chaka Fattah Diane Black Taxation in the United States
is Wikipage redirect of	American opportunity tax credit
is Wikipage disambiguates of	AOTC
is foaf:primaryTopic of	wikipedia-en:American_Opportunity_Tax_Credit

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