2022 American Opportunity Credit Details
American Opportunity Credit reduces income tax dollar for dollar. American Opportunity Credit reduces your taxes by up to $2,500 per student for the education expenses of college students pursuing a degree during their first four years of attendance, as long as they are enrolled at least half time and don’t have a felony drug conviction. The refundable portion of the credit is limited to $1,000. Costs that qualify for the credit include tuition, fees, books, supplies and necessary equipment.