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divepdic-
New Member

Since we only paid $55.00 for college classes, do we have to take one of the educational credits? She will be attending a 4 yr college in the future.

 
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4 Replies
LeonardS
Expert Alumni

Since we only paid $55.00 for college classes, do we have to take one of the educational credits? She will be attending a 4 yr college in the future.

No, you do not have to take any educational credits if you do not wish to do so.

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Hal_Al
Level 15

Since we only paid $55.00 for college classes, do we have to take one of the educational credits? She will be attending a 4 yr college in the future.

You can choose the lesser credit (the Lifetime Learning Credit [LLC]) for this year and save you 4 American Opportunity Credits (AOC) for later.  The AOC can only be claimed 4 times (4 years).  There is no limit on the times for  LLC.  The LLC is 20%. For $55 of expenses: 20% x $55 = $11.

divepdic-
New Member

Since we only paid $55.00 for college classes, do we have to take one of the educational credits? She will be attending a 4 yr college in the future.

Do the 4 years have to be consecutive for the AOP credit?    Thank you!

 

Hal_Al
Level 15

Since we only paid $55.00 for college classes, do we have to take one of the educational credits? She will be attending a 4 yr college in the future.

Q. Do the 4 years have to be consecutive for the AOC credit?   

A.  No, but they have to all be for undergrad courses (there's an exception for students who start grad school the same year they get their undergrad degree). 

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