Education credits

Forum|Forum|1 year ago
November 16, 2024
2 replies
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I graduated college in August 2023 am I still able to claim a text credits my education ones?

xmasbaby0

Employee

You can claim 2023 education expenses on a 2023 tax return. (or...the person who claimed you as a dependent for 2023 can put it on a 2023 return). The exception would be any interest you have paid in 2024 for a student loan. If/when you get a 2024 1098E from the lender of your student loan you can enter any interest paid on your 2024.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Hal_Al

Employee

Q. I graduated college in August 2023, am I still able to claim an education credit?

A. Simple answer: yes.

Be aware that there is a 4 time limit for claiming the more generous American Opportunity Credit (AOC or AOTC). Since graduation year is usually the 5th calendar/tax year for being in school, chances are that you (or your parents, if you were their dependent) have already claimed the AOC the maximum 4 times on your undergrad education. But, you would still be eligible for the less generous Lifetime Learning Credit (LLC). There is no limit on how many times the LLC can be claimed. Generally, the AOC is not available to grad students (there is a slight exception).