Tax Resources

What is the Hope Credit?

This section answers the question what is the Hope credit as well as helps with the IRS rules on Hope credit qualifications and Hope credit instructions. Hope credit is one of the two education tax credits that a taxpayer can claim. The other education tax credit is the lifetime learning tax credit.

What is the maximum Hope education credit?

A Hope education tax credit of up to $1,650 for 2007 can be claimed for the qualified tuition and related expenses paid for each eligible student.

What is the hope credit?

How many years can I claim Hope tax credit for?

Hope tax credit can only be claimed for two years for each eligible student.

Hope credit instructions: what is the Hope tax credit amount?

The Hope credit is:

hope tax credit

that the taxpayer pays for each eligible student's qualified tuition and related expenses. The full $1,670 maximum Hope tax credit can be claimed for each eligible student for whom at least $2,200 of qualified education expenses were paid.

What are the Hope credit qualifications?

To claim the Hope tax credit, the eligible student must meet all the following Hope education tax credit requirements.

  • did not claim the Hope tax credit in any previous two years
  • has not completed the first 2 years of postsecondary education before the year end (usually freshman and sophomore)
  • be enrolled at least half time in a program that leads to a degree certificate or other recognized educational credential.
  • be free of any felony conviction for possession or distributing a controlled substance.

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