Hello! I need some help understanding the 4-year rule regarding the American Opportunity Credit. Long story short, I began attending a 4-year university at 18, but I was far too immature, short-sighted, and careless at the time, so I failed out after a year. Then I attended community colleges on and off from 19-24. Finally, at 24, reality hit me, and I began taking my life and future seriously, especially after transferring back to the same 4-year university to pursue a degree in accounting.
I earned many credits from various community colleges and unnecessary classes throughout the years, but I don't have a BA yet. After the current semester, I have just two courses left until I earn my accounting degree (120 units for the degree), but in total, I will have more than 120 units upon earning my degree due to the random classes that I took in prior years. Despite my choice of major and extensive research, I still don't feel confident in concluding that I am eligible for the AOTC. Box 8 is checked on my school's Form 1098-T, and box 9 is not. Additionally, the AOTC was not claimed by my parents or me in the past, so I think I qualify, but I am not sure as the IRS guidelines are somewhat unclear.
Thank you in advance for your help, and I look forward to learning from your expertise!
