Aotc Phase Out 2024 Schedule. The tax credit under aotc is $2,500 per eligible student. Income limits & phaseout (for 2023 and 2024):
The tax credit under aotc is $2,500 per eligible student. The aotc is gradually reduced in a process that’s referred to as phasing out for single taxpayers with modified adjusted gross incomes (magis) of $80,000 as of the 2022 tax.