Am I able to claim both the American Opportunity Credit AND the Earned Income Tax Credit in the same year if I wasn't a student for all of 2021?

Forum|Forum|3 years ago
July 10, 2022
2 replies
0 views

I am not considered a "specified student" for the EITC because I wasn't enrolled in classes for more than 5 months out of the year. I also claimed the AOTC.

TurboTax Online

Critter-3

If you are not claimed as a dependent then it is possible that you would qualify for both credits.

Hal_Al

Employee

Yes. You can claim the AOTC if you were a half time (or more) student for one academic term (e.g. quarter or semester). The 5 month rule does not apply. The academic term can be any length. You can claim the AOTC even if you did not complete the term ("dropped out").

The 5 month rule has to do with whether you can be claimed as a "qualifying child" dependent. Since you cannot be, you can also claim the EITC (if you are 19+).

NCPERSON1

@nebekerjeffrey-g - just be mindful that the AOC credit may be limited:

1) Part of the credit is considered "non-refundable". The maximum credit is $1500, is dependent on your qualified expenses; it can be used to reduce Line 18 or Form 1040, but to not less than zero.

2) Part of the credit is considered "refundable". the maximium credit is $1000, and is dependent on your qualified expenses. You are not eligible for this credit if these are ALL true: a) you file other than Married-Joint, b) one of your parents is alive, c) you are under 24 and your earned income is less than 50% of your financial support,