Tuition Remission and American Opportunity Credit

[CEW_NSU]

My child started attending university this year and is receiving tuition remission as a benefit of my employment.  Should we wait to apply the "American Opportunity Credit" since it is only available for four years?  If student is enrolled in a 5 year engineering program, can we select which 4 years we apply for the credit? 

[Hal_Al]

Q.  Should we wait to apply the "American Opportunity Credit" (AOTC) since it is only available for four years?

A. You have to do the math, which means some guess work about the future numbers. But, if you make a mistake, you are allowed to file an amended return to either add or delete the AOTC. 

Q.  If student is enrolled in a 5 year engineering program, can we select which 4 years we apply for the credit? 

A. Yes.