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EOTC Estimator Instructions

Use the calculator below to estimate the Educational Opportunity Tax Credit amount for which you may be eligible based on the 2015 Educational Opportunity Tax Credit Worksheet guidelines. Please Note: Opportunity Maine is not affiliated with Maine Revenue Services and therefore the actual tax credit you receive from Maine Revenue Services may differ from the estimate below.

You can choose to print a pre-populated EOTC Worksheet based on the results received from this calculator. Please Note: If you choose to print the pre-populated EOTC worksheet you may still have to manually fill in fields such as your social security number and possibly others regarding unused prior year tax credits. Double check that all needed fields of the form are completed before submitting the EOTC worksheet with your income tax return.

If you prefer, you can download and print a paper version of Maine Revenue Services’ 2015 Educational Opportunity Tax Credit Worksheet and fill it in manually.

You must then submit your EOTC Worksheet along with your personal 1040ME Maine state income tax return. Please Note: Maine Revenue Services may request supporting documentation for the Educational Opportunity Tax Credit, including, but not limited to the following: a copy of your college transcript, proof of the education loans that qualify for the credit, proof of the education loan payments made by you or your employer during the tax year.

Feel free to contact us with questions you may have regarding the EOTC calculations or details about the program. The FAQ section of our website may answer many of the questions you have about the program.

Please Note: We cannot offer tax advice. The information on this website is intended to be used as a general guide. For specific tax questions, we recommend you contact Maine Revenue Services at 207-626-8475 or consult with a professional tax advisor.

Helpful Links

Educational Opportunity Tax Credit Flyer
EOTC Flyer PDF

Educational Opportunity Tax Credit for Employers Flyer
EOTC for Employers Flyer PDF

2015 EOTC Worksheet for Resident Individuals
maine.gov

2015 EOTC Worksheet for Employers
maine.gov

Educational Opportunity Tax Credit Qualified STEM Degrees
maine.gov

New England Board of Higher Education Tuition Break Program
nebhe.org

NASFAA Tax Breaks for Higher Education
nasfaa.org

Maine Revenue Service – Individual Income Tax (1040ME)
maine.gov

IRS Tax Benefits for Education
irs.gov

IRS Education Credits
irs.gov

IRS Tuition and Fee Deductions
irs.gov

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