In order for a taxpayer to be able qualify to claim the American Opportunity Credit, the IRS has established that the taxpayer must meet the following four requirements as follows;
- The taxpayer must pay the qualified education expenses of higher education.
- The taxayer must pay the education expenses for an eligible student.
- The eligible student could be either the taxpayer, his or her spouse or a dependent (for whom the taxpayer claimed as a dependent exemption on taxpayers tax return).
- The taxpayer chooses not to claim the Hope Tax Credit for any student in the tax year.