Do I qualify for the American Opportunity Tax Credit? I've only claimed it once before. I've accrued 120+ credits, but am still working on my first bachelors degree.

[oliviacanteyx]

I was a running start student and completed an AA the same time I graduated high school. After taking a break, I decided I wanted to study science and returned to community college. I took a bunch of prerequisites and just transfered to a univeristy to pursue my bachelors degree. Essentially, I have a whole lot of credits I can't do anything with, but I am still currently working on my first bachelors degree. Since I have so many credits and only some could be transferred over, I am considered a junior at my new insititution. I'm confused by the language of "first four years of higher education" and "4 years of college credit before 2025" and thus am confused if I qualify for the AOTC or not.

[LaShaunA3]

You qualify for the AOTC if you haven't completed the first 4 years of postsecondary education as of the beginning of the tax year. It's based on your academic level, not total credits earned. Since you’re still working on your first bachelor’s degree and haven’t finished it, you likely meet that requirement, even with extra credits.

See the following articles for more information:

Tax Benefits for Education

Education credits: Questions and answers

[Hal_Al]

I concur with @LaShaunA3 , if you do not have enough approved credits for a degree, you are still eligible for the American Opportunity Tax Credit (AOTC); as long as you and/or your parents have not already claimed the AOTC four times on your college time.