What is a Hope Credit, and who can claim the Hope Credit?
A Hope Credit of up to $1,800 per student is available for the first two years of college education. The tax credit is 100% of the first $1,200 of qualified education expenses and 50% of the second $1,200 of qualified education expenses. The credit phases out for married taxpayers with an adjusted gross income between $96,000 and $116,000. For Single, Head of Household, or Qualifying Widow(er) taxpayers, the adjusted gross income phase out is between $48,000 and $58,000. An eligible student can be you, your spouse, or an eligible dependent. You can claim a Hope Credit for an eligible student who meets the following tests: • The student is enrolled in one of the first two years of postsecondary education (generally freshman or sophomore years of college). • The student is enrolled in a program that leads to a degree, certificate, or other recognized educational credential. • The student is taking at least one half of the normal full-time workload for the course of study for at least one
