Q. IRS Publication 970 indicates that it can be used for graduate school as well (see the Appendix comparison), so it apparently doesn't need to be just for 4 years of undergraduate education. Is that correct.
A. Yes, but only in a specific situation. The grad expenses must occur in the same calendar year as your last undergrad classes. If you finished your undergrad degree, in the spring, and go to grad school, in the fall, you may count both the grad and undergrad expenses for the AOTC. But, you cannot claim the AOTC the following year of grad school (because you had completed 4 years of post secondary education before January 1st.).
