<p>happymom, there currently is a limit of 4 years for the American Opportunity Credit (formerly the Hope Credit). BUT - it’s not at all clear that the AOC will still be around more than another year or two, or that it won’t be decreased back to the previous Hope maximum of $1800 (current max for AOC is $2500). The old Hope Credit used to only be good for two years - it would not surprise me if Congress put it back to the old $1800 limit and two-years-only situation. So you may be making a mistake by not taking the credit when you can.</p>
<p>You should also be aware that, at least currently, there is NO limit to the number of years that you can take the Lifetime Learning Credit (or, IIRC, the tuition and fees deduction, but I am not as familiar with that one).</p>
<p>Even if you don’t use the AOC for 2010, you probably should at least take one of the others.</p>