The American Opportunity Credit is supposed to amend the Hope Credit for 2009 and 2010. Since this credit is now a 4 year credit, are Juniors and Seniors in college now eligible for the American Opportunity Credit in 2009?
The new credit modifies the existing Hope credit for tax years 2009 and 2010, making it available to a broader range of taxpayers, including many with higher incomes and those who owe no tax. It also adds required course materials to the list of qualifying expenses and allows the credit to be claimed for four post-secondary education years instead of two.
http://www.irs.gov/newsroom/ar...
