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Level 1
June 1, 2019
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Question on American Opportunity Tax Credit. Our child graduated from her 4 year degree program in 2018. Can we claim the the cost of her final semester for tax credit?

  • June 1, 2019
  • 1 reply
  • 7 views
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    Best answer by Critter

    Yes BUT you can only take the AOC on 4 tax returns and the 4 year degree  spans 5 tax years ... so if you took it 4 times already you only get to take the Lifetime Learning Credit. 

    school years                       tax year & credit taken

    2014 - 2015   freshman      2014  AOC

    2015 - 2016  sophomore    2015  AOC

    2016 - 2017  junior             2016  AOC

    2017 - 2018  senior            2017  AOC

                                               2018 LLC

    1 reply

    Critter
    CritterAnswer
    Level 15
    June 1, 2019

    Yes BUT you can only take the AOC on 4 tax returns and the 4 year degree  spans 5 tax years ... so if you took it 4 times already you only get to take the Lifetime Learning Credit. 

    school years                       tax year & credit taken

    2014 - 2015   freshman      2014  AOC

    2015 - 2016  sophomore    2015  AOC

    2016 - 2017  junior             2016  AOC

    2017 - 2018  senior            2017  AOC

                                               2018 LLC