Skip to main content
June 1, 2019
Solved

My son is taking dual credit college classes as a high school junior. Do you only get this credit for 4 years?

  • June 1, 2019
  • 1 reply
  • 0 views
No text available
Best answer by KrisD15

The American Opportunity Credit, which is the most advantageous, is available ONLY for 4 years while a student is perusing higher education. The school would need to consider your son as enrolled at least half time in a program leading to a degree.

There is another education credit available, but it is not as generous.

There are several factors to consider, but basically if in one year you incur at least $4,000 more in education expenses than you are re-reimbursed from tax-free assistance, such as scholarships and/or grants, you get the full credit.

If the tuition is being paid to the college, you may be eligible for the credit. If you are, you would have received a 1098-T in your child's name from the school.

A second option would be the Lifetime Learning Credit, which has no limit as to how many years it can be claimed.

1 reply

KrisD15
KrisD15Answer
June 1, 2019

The American Opportunity Credit, which is the most advantageous, is available ONLY for 4 years while a student is perusing higher education. The school would need to consider your son as enrolled at least half time in a program leading to a degree.

There is another education credit available, but it is not as generous.

There are several factors to consider, but basically if in one year you incur at least $4,000 more in education expenses than you are re-reimbursed from tax-free assistance, such as scholarships and/or grants, you get the full credit.

If the tuition is being paid to the college, you may be eligible for the credit. If you are, you would have received a 1098-T in your child's name from the school.

A second option would be the Lifetime Learning Credit, which has no limit as to how many years it can be claimed.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"