Solved
deductions
What specific deductions can be taken for a college student living at home for taxes?
There are no actual deductions. But, there are two tuition/ education credits. Qualified educational expenses (QEE) include, tuition, fees and course materials (mainly books and a computer).
But, 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. It is usually best if the parent claims that credit.
You cannot claim the (up to) $1000 refundable credit if you are, or can be, claimed as a dependent by someone else.
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