It depends. The AOTC is based on your income, your expenses and the student and can be claimed up to 4 times for undergraduate. When not claiming the AOTC, the Lifetime Learning Credit is available.
AOTC is limited to 4 years and you want to maximize those 4 years and be able to claim the full $4,000 of tuition paid - if possible.
- Your student qualifies unless convicted of a drug felony - attended full time one semester.
- Your income and filing status affect the credit.
- Your tuition paid along with any scholarships or college savings accounts, like 529/ESA, affect the credit.
See What You Need to Know about AOTC and LLC
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