I am a college student filing my taxes for the second time and appear to be eligible for the American opportunity tax credit according the IRS webpage. What should i do?

Forum|Forum|5 years ago
April 14, 2021
1 reply
0 views

According to my federal tax credits on turbo tax, I am ineligible however

TurboTax Free Edition Online

xmasbaby0

Employee

Are you being claimed as someone else's dependent? Or filing married filing separately?

https://ttlc.intuit.com/questions/3262983-who-is-eligible-to-take-the-american-opportunity-tax-credit

You can see your AOC credit on line 29 of your 2020 Form 1040

https://ttlc.intuit.com/questions/3383321-why-didn-t-i-get-a-credit-or-deduction-for-education-expenses

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

tgkjoukAuthor

No, I am filling as independent just as I did last year. Nothing has really changed since filling either - i.e. still at the same institution, still pay the same for tuition (might have gone up a percent or two), and same living situation - but for some reason I'm being marked as ineligible.

Hal_Al

Employee

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.

In the personal info section, when TurboTax detects that you are under age 24, it will ask if you provided more than half your support with earned income. You must answer that question YES.