American Opportunity Tax Credit Graduate Students
April 1st, 2010
Question: Can I claim the American Opportunity Tax Credit if I started as a undergrad student but am in grad school now?
I am trying to fill out my taxes but didn’t know if I qualifed for the American Opportunity Credit or if I would have to file with Tuition and Fees Deduction. At the beginning of the year I was still taking undergraduate courses and then in April I started my graduate level courses. Which one should I claim?
Answer: Yes you can. But you can only apply the amount that was used for the 4-year term (the beginning of the year). That means you cannot add both and apply them. The tax site I used asked how long I was an undergrad and calculated it like that. You cannot get the tax credit and the Tuition and Fees Deduction together. I would get the tax credit though because it’s more back to you.
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