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Higher education credit
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Lori11
Level 1
04-04-2023
10:04 AM
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Can I amend a prior year to remove the American opportunity credit and take the lifetime learning credit for that year so that I can use the 4th year of the American opportunity credit this year.
I have a client whose previous preparer took the American opportunity credit for 169.00 in 2020.For 2022 the dependent is not eligible for that credit because it was used for more that 4 years.
If I amend then he would have only used the credit for 3 three years and I could take it in 2022
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dkh
Level 15
04-08-2023
10:46 AM
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I looked at the Education Credit information in the Master Tax Guide - I didn't see any reference to not being able to amend. Didn't find anything with Google either.
Amending a return is to correct errors - in your case, using AOC on the return was an error.
I would wait for the amendment for the prior year return to be processed before I took the AOC on the current year return.
