• Under Part III: Refundable American Opportunity Credit:
• 7. Enter the amount from line 2. field contains 2,500
• 8. Enter: $180,000 if married filing jointly; $90,000 if single, head of household, or qualifying widow(er) field contains 90,000
• 9. Enter the amount from Form 1040, line 38, or Form 1040A, line 22. If you are filing Form 2555, 2555-EZ, or 4563, or you are excluding income from Puerto Rico, see Pub. 970 for the amount to enter. field contains 57,000
• 10. Subtract line 9 from line 8. If zero or less, stop; you cannot take any education credit field contains 33,000
• 11. Enter: $20,000 if married filing jointly; $10,000 if single, head of household, or qualifying widow(er) field contains 10,000
• 12. If line 10 is: (bullet) Equal to or more than line 11, enter 1.000 on line 12. (bullet) Less than line 11, divide line 10 by line 11. Enter the result as a decimal (rounded to at least three places) field contains 1.000
• 13. Multiply line 7 by line 12. Caution: If you were under age 24 at the end of the year and meet the conditions on page 4 of the instructions, you cannot take the refundable American opportunity credit. Skip line 14, enter the amount from line 13 on line 15, and check this box. field contains 2,500
• 14. Refundable American opportunity credit. Multiply line 13 by 40% (.40). Enter the amount here and on Form 1040, line 66, or Form 1040A, line 40. Then go to line 15 below. field contains 1,000
• Under Part IV: Nonrefundable Education Credits
• 15. Subtract line 14 from line 13field contains 1,500
• 16. Enter the amount from line 6. If you have no entry on line 6, skip lines 17 through 22, and enter the amount from line 15 on line 6 of the Credit Limit Worksheet (see instructions).field contains
• 23. Nonrefundable education credits. Enter the amount from line 11 of the Credit Limit Worksheet (see instructions) here and on Form 1040, line 49, or Form 1040A, line 31field contains 1,500

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