Aotc Phase Out 2024 Reddit. Benefits of the american opportunity tax credit (aotc) and lifetime learning credit (llc) for the 2024 tax season: For tax year 2024, the credit begins to phase out for single taxpayers who have adjusted gross income between $80,000 and $90,000 and joint tax filers when adjusted gross.

The american opportunity tax credit (aotc) is a tax credit for qualified education expenses associated with the first four years of a student’s postsecondary education. Glenda pays the tuition for the 2024 spring semester in december 2023.