<p>Sorry that I don’t have time to give a real detailed response on this, but if you are married filing jointly and you claim your son as your dependent, you CAN claim the AOCredit (provided you meet the income requirements), at <em>least</em> on the amount that was paid for all required books, supplies and equipment, and possibly on the amount of room and board that you paid for (including paid for by a LOAN - in the student’s financial aid package or otherwise) - up to a total of $4000 paid in order to get the max $2500 credit (but even a smaller credit is helpful!). There are other threads here that explain how to do this - here are some: <a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1076108-american-opportunity-tax-credit-scholarships-2.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/1076108-american-opportunity-tax-credit-scholarships-2.html</a> (see swimscatmom’s post especially, also note my comment that tax preparers are often CLUELESS about this stuff!)</p>
<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/870818-fafsa-continuing-student-question-taxability-scholarships-tax.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/870818-fafsa-continuing-student-question-taxability-scholarships-tax.html</a> (see swimscatmom’s post #8 for a helpful link that discusses how to minimize the total family tax bill -parent benefits from maximizing the AOC even if the kid pays a little extra tax)</p>
<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1093982-fafsa-tax-question-college-scholarships-taxable-student-parent.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/1093982-fafsa-tax-question-college-scholarships-taxable-student-parent.html</a></p>
<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1084458-byrd-scholarship-designation-question.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/1084458-byrd-scholarship-designation-question.html</a> (see especially post #5)</p>
<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1097756-american-opportunity-credit.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/1097756-american-opportunity-credit.html</a></p>
<p>MORE CC threads on this topic:
[site:talk.collegeconfidential.com</a> “college confidential” taxable scholarship grant “american opportunity” credit - Google Search](<a href=“site:talk.collegeconfidential.com "college confidential" taxable scholarship grant "american opportunity" credit - Google Search”>site:talk.collegeconfidential.com "college confidential" taxable scholarship grant "american opportunity" credit - Google Search)</p>
<p>I would also check to make sure that the 1098T -is correct - check it versus the details of your kid’s financial aid award package plus your invoices and the records of what you paid and when - and DON’T forget books/supplies/equipment. The 1098T is often incorrect, sadly.</p>