I am eligible for the AOTC (American Opportunity Tax Credit) and I didn't apply for this year. Is it possible to amend my 200 return and apply for it? Thanks

 
MaryK4
Expert Alumni

After you file

Yes you can amend your tax return to claim the American Opportunity Tax Credit.  See How to amend (change or correct) a return.

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

After you file

don't apply the first year you get out of high school. You only have half a year of college  tuition to work with .

KrisD15
Expert Alumni

After you file

Yes, if you are eligible for an education credit or deduction, but did not take one, you can amend your return and claim one. 

 

The American Opportunity Tax Credit can only be used 4 times, so it would be smart to think about the years of schooling you have left and the anticipated amount of expenses you can claim each year. 

 

The other credit is the Lifetime Learners and there is a Tuition and Fees Deduction as well.

 

IRS Pub 970 explains the differences between the credits and the deduction, and also shows examples of how the credits, scholarships, and 529 distributions can be allocated to get the best result. 

The Education section is an area where advance planning can pay off. 

 

IRS Pub 970

 

 

@camiledemacedo

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"