Frequently Asked Question 240

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Is there a maximum education credit I can take?

The education credit limits are as follows:

  • Hope Credit - $2,500 per eligible student.
  • American Opportunity Tax Credit - 100% of the first $2,000 spent and 25% of the next $2,000
  • Lifetime Learning Credit - $2,400 per taxpayer return

You will not be able to take the education credits if your adjusted gross income (AGI) is $160,000 or more if married filing joint (MFJ), or $80,000 or more if single, head of household or qualifying widow(er). Our program will calculate your AGI for you.