A key tax credit that helps families pay for college gets a major boost in the 2009 stimulus bill. The credit is bigger, covers more years of college, and helps more taxpayers. The law renames the Hope College credit for 2009 and 2010—it’s now known as the American Opportunity tax credit—and hikes its value from $1,800 to $2,500 for 2009 and 2010.Because a tax credit reduces your tax bill dollar for dollar, this basically means Uncle Sam will give you up to $2,500 per year for each qualifying college student in your family.And, unlike the old Hope credit, which was available only for a student’s first two years of college, the new American Opportunity credit can be claimed for four years of post-high-school education. You get the maximum credit if you spend at least $4,000 in qualifying expenses, which now include the cost of books as well as tuition and fees.http://turbotax.intuit.com/tax-tools/tax-tips/college/7117.h...FuskieWho is headed to his 20th college reunion next month where his class gets to lead the parade...
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