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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. The credit is equal to 100% of the first $2,000 of all of the qualified tuition and related expenses paid by the taxpayer during the tax year. In this blog post, I will explain the basics of AOTC , its income limits, and those eligible to claim it.