Should my child take the American Opportunity Credit?

If you have a child in college, you may not qualify for the American Opportunity credit on your 2023 income tax return because your income is too high, (modified adjusted gross income) phaseout range of $80,000 - $90,000 for unmarried individuals and $160,000 - $180,000 for joint filers. Regardless of your income, you are not eligible for the credit if you use married filing separate status.

Your child might be able to claim the credit.

The maximum credit, per student, is $2,500 per year for the first four years of post-secondary education.