How many years of College has my child had before 2024? Fall 2020-Spring 2021 Fall 2021-Spring 2022 Fall 2022-Spring 2023 Fall 2023-Spring 2024 Fall 2024-Spring 2025

Simple answer: if she hasn't received a bachelor's degree, she has not completed four years of post secondary education and you are still eligible for the American Opportunity Credit (AOC).  But, there is a four time limit for claiming the AOC.  And that disqualifies most parents for the AOC in 2024 (if they claimed in in 2020, 2021, 2022, and 2023).  You would still qualify for the lesser Lifetime Learning Credit (LLC).

Why are you asking about this?   For what purpose?   Is this about the American Opportunity Tax Credit?   You can get that credit a grand total of four times while the child is an undergraduate, whether the credit was on a parent's return or the student's return.   Was the credit claimed on a 2020 return? 2021 return?  2022 return?  2023 return?   It is shown on line 29 of the Form 1040 for those tax years.

 

Or are you asking about the years for some other reason?

Yes, even though a student's "four-year" course of study toward a bachelor's degree will typically involve at least five calendar years due to starting the school year in the fall and ending in the spring, taxpayers can only claim the American Opportunity Credit on their returns for four tax years.

 

To be eligible for AOTC, the student must:

 

• Be pursuing a degree or other recognized education credential,
• Be enrolled at least half time for at least one academic period* beginning in the tax year,
• Not have finished the first four years of higher education at the beginning of the tax year,
• Not have claimed the AOTC or the former Hope credit for more than four tax years, or
• Not have a felony drug conviction at the end of the tax year.

*Academic Period can be semesters, trimesters, quarters or any other period of study such as a summer school session. The schools determine the academic periods. For schools that use clock or credit hours and do not have academic terms, the payment period may be treated as an academic period.

 

Taxpayers can claim the Lifetime Learning Credit for qualified tuition and related expenses paid for eligible students enrolled in an eligible educational institution. This credit can help pay for undergraduate, graduate, and professional degree courses — including courses to acquire or improve job skills. There is no limit on the number of years you can claim the credit. It is worth up to $2,000 per tax return.

 

See this IRS article for more information about the AOTC.

 

See this article for more information from TurboTax on the topic of education tax credits.

 

See here and here for more information from the IRS on this topic.

 

@jmg39