Can you use a 529 plan and claim the American Opportunity Credit? Yes, but not on the same expenses. To take advantage of both, the first $4,000 of qualified education expenses must be paid out of pocket to qualify for the credit. The remaining qualified expenses can then be paid from a 529 plan and still receive the tax-free benefit. The IRS doesn’t allow double-dipping, but with the right planning, you can still maximize both benefits! #EducationTaxCredits #529Plan #TaxPlanning #CPATips #Colle

Taxpayers can score little-known payment up to $1,000 if you meet 5 requirements