Lower Columbia College students and families who had tuition and other college-related expenses may be eligible to claim the American Opportunity Tax Credit (formerly Hope Credit), when they prepare their federal income tax return.
Form 1098-T was mailed to qualified LCC students on or before January 31.
IRS Tax Notice
American Opportunity replaces a similar tax credit provision called the Hope credit. The new credit of up $2,500 for tuition and eligible college expenses is higher than under the Hope provision. In addition, tax filers may now claim expenses incurred during the first four years of their postsecondary education rather than only the first two.
Depending on individual circumstances, the American Opportunity Tax Credit may not be the most advantageous tax option for all families with higher education expenses.
Tax Credit Phone Line
Students with questions can call LCC's American Opportunity Tax Credit phone line at (360) 442-2920.
Please leave a detailed message. Calls are returned the next business day.
(January 17-April 15).