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Internal Revenue Service
Personal finance Q&A: Understanding education tax breaks
Personal finance Q&A: Understanding education tax breaks

Dear Liz: I am confused regarding my ability to take advantage of the American Opportunity Credit for college expenses in filing my 2014 tax return. My accountant told me I didn't qualify because my adjusted gross income exceeds $80,000. Yet when I researched on the IRS website, I seem to qualify. I paid qualified education expenses for my son to get an MBA and am claiming him as a dependent on my return, since he is unemployed and I support him. My adjusted gross income was $84,905. The IRS rules discuss modified adjusted gross income less than $90,000. Is my accountant thinking of another tax credit that I don't qualify for? Can I take advantage of any credit for providing...

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