This is correct. Since a typical 4-year degree spans 5 calendar years, one semester usually doesn’t qualify for the AOTC.
If you’ve already used the AOTC four times, TurboTax will guide you to the Lifetime Learning Credit for that last spring semester. This credit covers 20% of expenses up to $10,000 and is non-refundable, but it’s the usual way to get tax savings in your 5th year.
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