Can Both Spouses Claim Aotc?

Are can Both Spouses Claim Aotc a topic you are researching? Read the complete facts right here.

Enter the SSN or ITIN of your spouse in the space provided at the top of Form 1040 or Form 1040A.”. In any of these situations, the personal exemption acts just the same as claiming your spouse as a dependent because it reduces your taxable income by the amount of the exemption.

What happens if your AOTC claim is incorrect?

If the IRS audits your return and finds your AOTC claim is incorrect and you don’t have the documents to show you qualified, you must pay back the amount of the AOTC you received in error with interest. The IRS may also charge you an accuracy or a fraud penalty.

Related Stories

About Author

Alexander Ross

Alexander Ross

Alexander Ross has covered the video game industry for a decade, writing deep dives on game design, esports tournaments, VR developments, and gaming culture.

Read More →