WebJan 22, 2024 · The American Opportunity Tax Credit is based on 100% of the first $2,000 of qualifying college expenses and 25% of the next $2,000, for a maximum possible credit of $2,500 per student. For 2024, you can claim the AOTC for a credit up to $2,500 if: Your student is in their first four years of college. Your income doesn't exceed $160,000 if you ... WebMar 6, 2024 · The nonrefundable EV tax credit ranges from $2,500 to $7500 for tax year 2024 and eligibility depends on the vehicle’s weight, the manufacturer, and whether you …

Publication 929 (2024), Tax Rules for Children and …

WebJan 18, 2024 · Here are six credits to keep in mind for tax year 2024. ... "If you're a parent, this huge credit can be worth up to $6,935 on your 2024 taxes if you have three or more kids," Greene-Lewis says. WebJan 17, 2024 · Answer: All of the 2024 expansions are gone, with the rules reverting back to those that were in place for filing 2024 returns. For 2024, the child tax credit is $2,000 per kid under the age of 17 ... maria dinenno

Qualified Ed Expenses Internal Revenue Service - IRS

WebThe Earned Income Tax Credit is available to W-2 employees and self-employed people who make less than a certain amount. How much you get depends on the number of … Web5 rows · Mar 6, 2024 · The 2024 standard deduction is $12,950 for single filers, $25,900 for joint filers or $19,400 ... WebDec 1, 2024 · Earned income. A minor who may be claimed as a dependent has to file a return once their income exceeds their standard deduction. For tax year 2024 this is the greater of $1,150 or the amount of earned income plus $400 up to the full standard deduction of $12,950. As an example, a 15-year-old who works after school and earns … current situation in nepal