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April 11, 2021
Question

1098-t

  • April 11, 2021
  • 2 replies
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I was given the 1098-T but when I input my information it keeps saying I do not qualify for the education credit but I am not sure why. I was told I should qualify for it. 

2 replies

KrisD15
April 11, 2021

Are you filing as a dependent? 

Do you have more in Box 1 (Tuition) than Box 5 (Scholarships) 

Have you used the American Opportunity Tax Credit 4 times? 

 

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Hal_Al
Employee
April 11, 2021

There's a new urban myth among college students that says they can get a $1000 from the government just for filing a tax form. For most of them, they simply aren't eligible. A full time unmarried student, under age 24, even if you don't qualify as a dependent, is only eligible for the refundable portion of the American Opportunity Credit if he supports himself by working. You cannot be supporting yourself on parental support, 529 plans or student loans & grants. You usually must have actually paid tuition, not had it paid by scholarships & grants.  It is usually best if the parent claims that credit. 

You cannot claim a credit if you are, or can be, claimed as a dependent by someone else.