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Deductions & credits
Wait for now. The IRS will probably deny the American opportunity credit, and will probably not convert it to the lifetime learning credit for you.
But you can’t just file an amended return willy-nilly. If the IRS denies the American opportunity credit, they will change your tax return in their computer system and they will adjust your refund or send you a bill for tax owed. Then, in order to claim the lifetime learning credit, you would need to file an amended return, not based on your original return, but based on the IRS is adjusted return. That will be a little tricky. You need to wait for the IRS to pay yourRefund, and make any adjustments and send you any letters. Then you will know how to go forward.
February 17, 2020
11:47 AM