The
American Opportunity Tax Credit (AOTC) can be claimed for more than one student
on a tax return as long as each student is eligible for the credit.
The question regarding whether the
student has completed the first four years of college is referring to whether
they have four years of college credit. This may mean that a bachelor’s degree has
been completed, but it doesn’t have to mean that. The student may have four years of college
credit under their belt, but may not have their degree yet due to a change in
major or another factor. If that is the
case, then they would not be eligible to claim the AOTC because of the four
years of credit requirement.
Additionally, there is a limit for the
number of years that the AOTC can be claimed for the same student. It can
only be claimed for four years, even if four years of college credit has
not yet been achieved. This question is
asked a little further in the process of completing the Education Expense section
of your return.
Finally, claiming the AOTC for two students on the same return is not likely to
trigger an audit. It can happen for
many taxpayers when you have two students in college at the same time.
