What counts as four years of college credit?

Forum|Forum|6 years ago
June 7, 2019
2 replies
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I have an AA degree, but I have also attended a community college for over 6 years (mostly taking electives and theater classes and not working towards a degree.) Does this count as 4 years of college credit?

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Fern

Employee

If you are working toward a four-year degree, you will meet the part of the definition of an eligible student defined as “has not completed the first four years of post-secondary education as of the beginning of the taxable year”. The fact that you have taken more than 4 years working toward the degree is not what is being measured. The fact that you have not completed it yet is what is being measured.

However, it is important to keep in mind that you can only take the American Opportunity Credit for 4 years. If you have taken the credit 4 times, you are no longer eligible even if you have not earned a four year degree in that time.

naiad17

What if I had already completed a bachelor's degree and was working on a second one during the year I'm reporting on?

KrisD15

No. You may claim it up to four times, but if the degree was earned before Jan 1, that student is no longer eligible to claim the American Opportunity Tax Credit.

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tcbushman

Employee

Thank you Kris. How do you know that? Is the four years of college credit synonymous with a bachelors degree, regardless of the years it took to complete? Can't seem to find clarity on the IRS site as they just speak of years of education, not degrees. https://www.irs.gov/credits-deductions/individuals/education-credits-questions-and-answers

Q9 seems to muddy it more.

AmyC

Employee

Q9 in your link states that as long as January 1 of that school year, the student had not received a degree, then all classes count towards AOTC. The AOTC is only allowed 4 times. The IRS based that on an average of 4 years for an undergraduate degree. The lifetime learning kicks in after that.

@tcbushman

Who is eligible to take the American Opportunity Tax Credit?

What education tax credits are available?

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