Q. I paid my Jan-Mar 2023 tuition on 10-1-2022. Can I prorate my tuition paid for 2023 so I can qualify for the American opportunity tax credit on my 2023 taxes?
A. No. Money paid in 2022 can only be claimed on a 2022 tax return, even if the course work was in the first quarter of 2023.
Q. If I was a full-time college student from Jan-Mar 2023 and paid my tuition for 2023 on October 1, 2023. Can I still claim my tuition paid for 2023, so I can qualify for the American opportunity tax credit on my 2023 taxes?
A. Yes. Even though it was paid late, it was paid in the same year as the course work, so it counts for a 2023 credit.
