Do I qualify for the American Opportunity Credit?

[Loki2921]

I graduated high school in 2018. I went to college full-time in 2018-2020, and then part-time from 2020-2023. I have an AS, but I do not have a BS yet. Technically, I have been in school for about ~5 years, but I do not have my bachelor's degree yet. I am on pace to graduate in fall of 2024. Do I qualify for the American Opportunity Credit? I am confused what is considered 4 years of college. I do not have four years of college credit, but I have been going to school for the past five years. I have never claimed the credit before. 

[AmyC]

Yes, you qualify. The AOTC is to help  get through school and can be claimed 4 times. You can amend tax returns to claim missed credit. Tax returns must be amended within 3 years of the deadline to qualify for a refund, plus the IRS will pay you interest.

You can use the IRS’s Interactive Tax Assistant tool to help determine if you’re eligible for educational credits or deductions, including the American Opportunity Tax Credit (AOTC) or the Lifetime Learning Credit (LLC).

See how to file an amended return.

[Hal_Al]

Q. Do I qualify for the American Opportunity Credit (AOC)?

A. Yes. Or more specifically, you meet the has not completed 4 years of post secondary education rule since you "do not have four years of college credit". Generally, if you don't have  a bachelor's degree, you qualify under the that rule. 

But, if you have been going to school for the past five years, you (or your parents) may have already claimed the AOC the maximum 4 times.  The 4 times rules is in addition to the 4 years of credits rule.  You must meet both rules.