American Opportunity Credit

Forum|Forum|5 years ago
March 15, 2021
1 reply
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TT is forcing me to use the Tuition Deduction instead of the American Opportunity Credit. I am claiming myself as a dependent and no one else is. I made $4,100 in 2020. My college expenses were over $5,000. I am receiving help with my expenses from my parents. I will receive the standard deduction of $12,400 and don't need the additional $4,000 tax deduction. I'd like to receive the $1,000 from AOC. Am I doing something wrong? the free internet software says I qualify for the AOC.

Bsch4477

Employee

With your small income it is probably safe to assume that you don’t earn enough to provide more than half of your support. That means that you can’t claim the refundable portion of the AOC. And since your income is so low you have no tax liability so the non-refundable portion of the credit doesn’t help you. It seems that your parents are eligible to claim you. If so, they can get the AOC if otherwise eligible.