Q. Can I claim the American Opportunity Credit (AOC)if I'm filing my own taxes, after my parents claimed me during my first 3 years?
A. Yes. You are allowed one more AOC.
Q. How do I answer whether or not I received it previously if my parents filed me as a dependent when I was in college originally?
A. You answer yes and enter 3. The times your parents claimed the AOC count towards your 4 time limit.
After you (and your parents) use your 4 AOC credits, you can claim the less generous Lifetime learning Credit or Tuition and Fees deduction for additional years.
