I was wondering if I'd quality for the American Opportunity Tax Credit (or the Lifetime Learning Credit). I tried searching for very direct answers, but got a few different results. Context:I currently have 2 associate degrees that I earned at the same time around 4-5 years ago.I'm currently a full-time student working toward a bachelor's degree (full-time during all of 2024).I called my school and they have me registered as a senior with less than 120 credit hours (specific to my degree, however, so not everything transferred to my program).I've been in college for more than 4 years with more than 120 total credits earned cumulatively.AOTC claimed less than 4 times. I'm wondering if I'd qualify for the AOTC considering that TurboTax mentions it being for a bachelor's degree. I believe I'd qualify for the Lifetime Learning Credit otherwise, but now I'm not really sure either way. Thanks!

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Question

American Opportunity Tax Credit (Eligibility)

Forum|Forum|1 year ago
February 6, 2025
1 reply
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I was wondering if I'd quality for the American Opportunity Tax Credit (or the Lifetime Learning Credit). I tried searching for very direct answers, but got a few different results.

Context:

I currently have 2 associate degrees that I earned at the same time around 4-5 years ago.
I'm currently a full-time student working toward a bachelor's degree (full-time during all of 2024).
I called my school and they have me registered as a senior with less than 120 credit hours (specific to my degree, however, so not everything transferred to my program).
I've been in college for more than 4 years with more than 120 total credits earned cumulatively.
AOTC claimed less than 4 times.

I'm wondering if I'd qualify for the AOTC considering that TurboTax mentions it being for a bachelor's degree. I believe I'd qualify for the Lifetime Learning Credit otherwise, but now I'm not really sure either way.

Thanks!

ThomasM125

The only qualification that would seem to disqualify you would be the one that stipulates that you need to not have completed the first four years of higher education. That could be interpreted to mean that you haven't completed your senior year while pursuing a bachelor's degree. Since you are registered as a senior, that would indicate that you haven't completed your senior year. Under that assumption, you would seem to qualify.

I suggest you read through this IRS publication and with that in mind answer the questions in the education section in TurboTax to see if you qualify.

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Hal_Al

Employee

The simple answer is: if you haven't received a bachelor's degree, you still qualify for the AOTC. There would be situations where that simplistic answer would not apply, but nothing you described would appear to disqualify you.