Hi, I have a 2020 1098t form that I dont think I ever reported on my 2020 tax return, could I apply it for my 2021 tax return, it lists the amount of tuition I paid.
Hi, I have a 2020 1098t form that I dont think I ever reported on my 2020 tax return, could I apply it for my 2021 tax return, it lists the amount of tuition I paid.
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.