Who is eligible for a Hope Scholarship tax credit?
• As part of the Taxpayer Relief Act of 1997, the Hope Scholarship tax credit allows most people to take a credit of up to $1,500 a year for college tuition and related expenses. The credit can be claimed for expenses for the education of the taxpayer, a spouse, or a dependent. The Hope Scholarship credit cannot be claimed by a student if the student is claimed as a dependent on another person’s tax return. A parent may claim the Hope Scholarship credit even if their child paid their own tuition but is claimed as a dependent by parents.
