Question

I am amending my return to add my 1098-T information. My education expenses are $4000, giving me $1000 refundable credit. However, my $1500 is not being refunded. Why?

Forum|Forum|5 years ago
May 1, 2021
1 reply
0 views

If my education expenses were included when I filed originally, my tax liability would have been reduced by $1500. So shouldn't I get the $1500 back when I amend the return?

TurboTax Deluxe Online

S

SweetieJean

Employee

Are you a dependent?

S

sie2000Author

No. This is the first year that I am not filing as a dependent.

CatinaT1

The American Opportunities Credit has two different parts.

Total Credit = $2,500

Non-Refundable Portion = $1,500

Refundable Portion = $1,000

The non-refundable portion can only be used to reduce your tax liability.  You can use up to $2,500 to reduce your tax liability.  If you do not the full amount toward reducing your tax liability, the amount left over, up to $1,000 can be added to any refund amount.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"