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Case Study 1: American Opportunity CreditMindy’s brother, Jim, started college in 2020. He was eligible for the American opportunity credit for 2020, 2021, 2022, and 2023. His parents claimed the American opportunity credit on their 2020, 2021, and 2022 returns. Jim claimed the credit on his 2023 tax return. Since the credit has been claimed for four years, the credit can’t be claimed on any additional returns based on Jim’s expenses. Click here for an explanation. The American opportunity credit is available for the first four years of college per eligible student (generally, freshman through senior years). 
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