Enrolled Agent Exam [Part 1] 44, Education Credits - American Opportunity Credit

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • The AOTC is worth up to $2,500 per student, calculated as 100% of the first $2,000 and 25% of the next $2,000 in expenses. • Qualified expenses include tuition, fees, and required course materials, but specifically exclude room, board, and transportation. • The credit is only available for a student's first four years of post-secondary education and they must be enrolled at least half-time. • If a student is a dependent, only the taxpayer who claims them can receive the AOTC, regardless of who paid the expenses. • Up to $1,000 (40%) of the AOTC is refundable, meaning a taxpayer can receive it even if they owe no tax. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep