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April 17, 2023
Question

Form 1098T HOW TO OBTAIN CREDIT??

  • April 17, 2023
  • 1 reply
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WHY i DO NOT RECEIVE CREDIT IF i AM A FULL TIME STUDENT?

1 reply

KrisD15
April 17, 2023

Are you claimed as a dependent on someone else's return? 

Is Box 1 (Tuition) more than Box 5 (Scholarships) on the 1098-T?

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Hal_Al
Employee
April 17, 2023

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 a credit if you are, or can be, claimed as a dependent by someone else.

 

Reference: Line 7 instructions for form 8863. https://www.irs.gov/instructions/i8863