Audit RED FLAGS: 12 Ways to Prevent Uncle Sam From Showing Up at Your Door

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8. Claim the American Opportunity Credit when you don’t qualify

If you’ve claimed the American Opportunity Credit, you what it can offer; however, if you didn’t, the credit was created for qualified education expenses that are paid for a qualifying student for the first four years of his/her higher education.

So, those who want a degree or other recognized credentials are entitled to claim this type of credit. However, according to the taxman, the vast majority of those who actually claim the American Opportunity Credit don’t meet the requirements; therefore, they don’t qualify. Don’t claim if you don’t qualify!

If you aren’t sure, check the IRS website or talk to a tax expert.

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