A blog post

The New College Credit

Posted on the 17 February, 2010 at 9:45 am Written by in Taxes

This is the old HOPE credit, redone. It actually is a better credit with higher limits and a wider phaseout.

The credit now applies to four years of college. The old HOPE applied to the first two years.

The credit is now $2,500. The HOPE was $1,800.

The phaseout for singles is now $80,000 to $90,000 (it was $50,000 to $60,000).

The phaseout for marrieds is $160,000 to $180,000 (it was $100,000 to $120,000).

And there is a new name for the credit: The American Opportunity Tax Credit.