![]() ![]() The American opportunity credit originally modified the existing Hope credit for tax years 20. Under the American Recovery and Reinvestment Act (ARRA), more parents and students qualify for a tax credit, the American opportunity credit, to pay for college expenses. ![]() This means that, for example, you can claim the American opportunity credit for one student and the lifetime learning credit for another student in the same year. If you pay qualified education expenses for more than one student in the same year, you can choose to take credits on a per-student, per-year basis. If you’re eligible to claim the lifetime learning credit and are also eligible to claim the American opportunity credit for the same student in the same year, you can choose to claim either credit, but not both. ![]()
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