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April 7, 2024
Question

Tuition Remission and American Opportunity Credit

  • April 7, 2024
  • 1 reply
  • 0 views

My child started attending university this year and is receiving tuition remission as a benefit of my employment.  Should we wait to apply the "American Opportunity Credit" since it is only available for four years?  If student is enrolled in a 5 year engineering program, can we select which 4 years we apply for the credit? 

    1 reply

    Hal_Al
    Employee
    April 8, 2024

    Q.  Should we wait to apply the "American Opportunity Credit" (AOTC) since it is only available for four years?

    A. You have to do the math, which means some guess work about the future numbers. But, if you make a mistake, you are allowed to file an amended return to either add or delete the AOTC. 

     

    Q.  If student is enrolled in a 5 year engineering program, can we select which 4 years we apply for the credit? 

    A. Yes.