Asked by T
Luca is a sophomore at the University of Dreams. For 2024, he received a Form 1098-T, Tuition Statement, showing his tuition of $6,000 and no scholarship amounts. Assuming all requirements are met, what is the maximum amount of the American Opportunity Tax Credit he can claim?
$1,000
$2,500
$4,000
$6,000
All Answers 1
Answered by
GPT-5 mini
AI
$2,500
Explanation: The American Opportunity Tax Credit is worth up to $2,500 per eligible student (100% of the first $2,000 of qualified expenses = $2,000, plus 25% of the next $2,000 = $500). With $6,000 of tuition and no scholarships, Luca can claim the full $2,500.
Explanation: The American Opportunity Tax Credit is worth up to $2,500 per eligible student (100% of the first $2,000 of qualified expenses = $2,000, plus 25% of the next $2,000 = $500). With $6,000 of tuition and no scholarships, Luca can claim the full $2,500.
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