You need to make sure you are qualified before claiming the American Opportunity Credit. If the IRS audits your return and finds your AOTC claim is incorrect and you don’t have the documents to show you qualified, you must pay back the amount of the AOTC you received in error with interest.Irs.gov
However, you might qualify for the Lifetime Learning Credit or the Tuition and Fees deductions.
One of the advantages of the Lifetime Learning Credit is that you can take the credit every year for higher education, as long as you meet all of these qualifying requirements:
- You, your dependent, or a third party paid qualified education expenses for higher education
- The qualified education expenses were for an eligible student
- The eligible student is you, your spouse, or a dependent on your tax return.
- For the full credit, your 2021 MAGI (modified adjusted gross income) is less than $59,000 ($119,000 if you are filing jointly)
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
