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Education
The American Opportunity Credit (AOC) is the only one limited to 4 years.
You may still claim the Lifetime Learning Credit (LLC) or the Tuition and Fees deduction (TFD) and save the more generous AOC for later. When comparing the LLC and TFD amounts, remember the LLC is a credit and the TFD only a deduction.
You say "I am required to enter the grant amount". That is not usually the case. If the grant was used for post secondary tuition, it is not taxable. On the other hand, tuition paid for with tax free grants is not eligible to claim the tuition credit or deduction.
How was the grant reported? On a 1098-T or 1099-Misc or something else?
‎July 13, 2020
9:40 AM