Skip to main content
January 29, 2021
Question

How can I make sure I’m actually eligible for the aoc credit? I’m worried my return will be too much and I don’t want to be audited. Can I simple deny it?

  • January 29, 2021
  • 1 reply
  • 0 views
No text available

1 reply

Hal_Al
Employee
January 29, 2021

Q. How can I make sure I’m actually eligible for the aoc credit? 

A. Two ways: 1. Carefully follow the TurboTax (TT) interview.  With the correct input, TT will accurately qualify you for the AOC*.  2. Have an understanding of the rules so that you know you qualify. See https://www.irs.gov/Individuals/AOTC

 

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, 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.

 

 * In particular, if you are a FT student, under 24, you will encounter a question in the personal info section (not the education section) that asks if you provided more than half your support with earned income.