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May 17, 2021
Question

I need help completing my children's education portion of our taxes.

  • May 17, 2021
  • 2 replies
  • 0 views
Trying to see if they both qualify for American Opportunity Credit...

2 replies

hbl3973
Employee
May 17, 2021

hrcydc,

 

My best advice is to look at   https://www.irs.gov/pub/irs-pdf/p970.pdf   which goes into great detail on the qualifications for various educational credits and deductions.

Hal_Al
Employee
May 17, 2021

Are you trying to  claim the education credit on your return, because they are your dependents or are they trying to claim it on their return? 

The TurboTax interview does a good job, in either case,  of determining eligibility and calculating the credit.  Just enter the 1098-T and follow the interview.

 

Other wise, to get help, you need to ask specific questions.

 

Be advised that most students simply aren't eligible to claim the credit on their own returns. A full time unmarried student, under age 24, even if he doesn'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. 

A student cannot claim a credit if he is, or can be, claimed as a dependent by someone else.