Question

1) true or false:

The American opportunity credit is available only for qualified higher education expenses paid during a students first two years of college.

Answer 1

The American opportunity credit is available only for qualified higher education expenses paid during a students first two years of college.

The given statement is false since it is available for first four years of higher education.

Maximum annual credit allowed is $2,500 per eligible student.

The American opportunity tax credit is a credit for qualified education expenses paid for an eligible student for the first 4 years of higher education.

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