American Opportunity Credit Question

Paying for College
1

<p>I am sorry if this has been covered before, but I am trying to see if I can take a very small AOC credit. My son has tuition and R&B covered by Yale and an outside scholarship. Yale’s 1098-T doesn’t match anything that would match 2013. Would I still be able to take a credit for his books & supplies for his first semester? His scholarship does not cover books & supplies.</p>

<p>Thanks.</p>

2

<p>I believe you could for books and required supplies.</p>

3

<p>

The amount of scholarship to cover the tuition would be tax-free; however, the scholarship to R&B would be taxable to your son.</p>