[CLBS] "American Opportunity Credit from Form 8863, line 8" - is this exempt?

[Alexandra Caval]

Holly,

The Hope Credit is not exempt - See in re Wooldridge. The ACTC is exempt -
see Farnsworth. 2021 is a weird year because the Child Tax Credit and the
Additional Child Tax Credit became the Refundable Child Tax Credit. There's
a lot of negotiating currently going on between ch 7 trustees and debtors
attorneys this year on the refundable child tax credit issue and what
portion is exempt and what portion is not. Not aware of any case that has
been tee'd up to test the issue. ~Alex

On Tue, Apr 5, 2022 at 2:14 PM Holly Roark <holly at roarklawboise.com> wrote:

> I have not seen this on a tax return until now. Is the "American
> Opportunity
> Credit from Form 8863, line 8" exempt? Also, is the ACTC exempt? I have
> forgotten.
>
>
>
> Best regards,
>
> HOLLY ROARK
>
> Attorney at Law
>
> Certified Bankruptcy Specialist -
>
> By the State Bar of California Board of Legal Specialization
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-- 

Alexandra O. Caval

Caval Law Office, P.C.

P.O. Box 1716

Twin Falls, ID 83303-01716

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alex at cavallawoffice.com




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