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Can the American Opportunity Credit be claimed for graduate school?

Can the American Opportunity Credit be claimed for graduate school?

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Answer #1

The American Opportunity Credit is applicable for four years of post-secondary education. The credit includes expenses for course-related books, supplies and equipment that are not necessarily paid to the educational institution.

For the American opportunity tax credit, an eligible student is a student who: (1) is enrolled in a program leading toward a degree, certificate or other recognized post-secondary educational credential; (2) has not completed the first four years of post-secondary education as of the beginning of the taxable year; (3) for at least one academic period is carrying at least ½ of the normal full-time work load for the course of study the student is pursuing; and (4) has not been convicted of a felony drug offense.

Thus American Opportunity credit cannot be claimed for graduate school as it is applicable for undergraduate college education expenses.

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