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Video instructions and help with filling out and completing Fill Form 2220 Credits

Instructions and Help about Fill Form 2220 Credits

We are talking about the American Opportunity Tax Credit. To make the video easier to watch and to not leave out any important details, I broke this video up into two parts. I hope you enjoy, let's get this going. What's going on, guys? MK of MK chip here today, we're going to be talking about taxes, specifically education credits. Now, there are two main types of education credits: one is the American Opportunity Credit and two is the Lifetime Learning Credit. Today specifically, we're going to be talking about the American Opportunity Credit only, so stay tuned. Throughout today's videos, I'll be showing a number of pictures and calling them slides, or however you want to think of it. But if it's going too fast at any time, just feel free to pause the video and you can read it, look it over, and then we can resume from there. In this video, I'll just be focusing on the American Opportunity Credit. I will be making another video at a later time to talk about the Lifetime Learning Credit. Now, the first question you might have in your mind is, "We're gonna talk about credits, how do I know which one's better?" Well, let me just tell you straight up before we even go down this path, if you have the choice between the American Opportunity Credit and the Lifetime Learning Credit, always take the American Opportunity Credit. You will come out far better. So, you might be asking, how long is this credit going to be around for? Well, I can tell you this, the Path Act of 2015 made the American Opportunity Credit permanent. Now, one thing you have to consider is that when they say permanent when it comes to our Congress, it might not mean...