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BTRR
Level 3

I took American Opp Credit for 7 semesters Fall '13 - Fall '16 (equals 4 tax years). I have qualified ed expenses for Spring '17 semester. Can I deduct these somewhere?

I took the American Opportunity Credit for 7 semesters from Fall 2013 - Fall 2016. This equals 4 tax years. I have qualified education expenses for the Spring 2017 semester. Can I deduct these somewhere?  Is there some type of credit I can use?

Full-time student / undergraduate degree / 4-year degree started in Fall 2013 semester and completed in Spring 2017 semester.

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KrisD
Intuit Alumni

I took American Opp Credit for 7 semesters Fall '13 - Fall '16 (equals 4 tax years). I have qualified ed expenses for Spring '17 semester. Can I deduct these somewhere?

Yes, if the expenses were paid in 2017. You may qualify for the Lifetime Learning Credit or Tuition and Fees deduction. Tuition and Fees was eliminated for 2017, but then reinstated. Enter the information into the TurboTax program in the Education Section and the program will alert you to any available credit or deduction. 

CLICK HERE for IRS Pub 970 Education Credits

CLICK HERE for TurboTax information on Education Credits


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1 Reply
KrisD
Intuit Alumni

I took American Opp Credit for 7 semesters Fall '13 - Fall '16 (equals 4 tax years). I have qualified ed expenses for Spring '17 semester. Can I deduct these somewhere?

Yes, if the expenses were paid in 2017. You may qualify for the Lifetime Learning Credit or Tuition and Fees deduction. Tuition and Fees was eliminated for 2017, but then reinstated. Enter the information into the TurboTax program in the Education Section and the program will alert you to any available credit or deduction. 

CLICK HERE for IRS Pub 970 Education Credits

CLICK HERE for TurboTax information on Education Credits


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