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January 17, 2025
Question

I need help with the credit earned for study full time at college.

  • January 17, 2025
  • 2 replies
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    2 replies

    Employee
    January 17, 2025

    This is not a chat site. If you ask a detailed question someone might be able to help you. 

    Hal_Al
    Employee
    January 18, 2025

    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 the (up to) $1000 refundable 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#en_US_2024_publink53002gd0e674