What counts as 4 years of postsecondary education?

Forum|Forum|1 year ago
June 16, 2024
1 reply
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I enrolled in a four year program fall 2017, I took a gap year from fall 2018 to spring 2019. I later withdrew fall 2020. By time, I was enrolled for 4 years 2017-2020. But I've only accrued 35 credits and my old school considers me a sophomore. I've never filled for the American opportunity tax credit but would like to know if I am eligible. I'm currently taking classes at my local community college.

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xmasbaby0

Employee

The "four years" is not as important as the fact that you are still a student working on earning an undergraduate degree. If you have not used the American Opportunity Tax Credit you may be able to use it. You can use the credit up to four times while earning an undergrad degree. You do not say if someone else can claim you as a dependent. If someone else can claim you, then the credit goes on their tax return. If someone claimed you as a dependent during those early years when you were in school, you will want to find out if they used the credit then, because the "four times" goes with you as the student, no matter whether the credit was used by a parent or by yourself.

https://ttlc.intuit.com/questions/3262983-who-is-eligible-to-take-the-american-opportunity-tax-credit

**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.**

Superglue27Author

Okay, thank you! My parent claimed me as a dependent when I was a freshman. Since then, I've been filing independently without the credit. Sounds like I should have 3 more times to use it.

rjs

Employee

Whether you have completed 4 years of postsecondary education is determined by the school. IRS Publication 970 says "A student has completed the first 4 years of postsecondary education if the institution at which the student is enrolled awards the student 4 years of academic credit." Since you have only 35 credits, and the school considers you a sophomore, you have not completed 4 years of postsecondary education.