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April 15, 2020
Question

I only made $6000 (ish) last year so I wouldn't exceed an adjusted gross income cap for education credits, but I am not getting ANY of the three education credits. Why?

  • April 15, 2020
  • 2 replies
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2 replies

April 15, 2020

It depends.  It could be because of your filing status, the wrong type of expenses, the year or type of education you are pursuing.

 

Please see these links to check your qualifications for the AOTC and Life Time Learning Credit as well as the Tuition and Fees Deduction.

 

Here is a link to each of the credits/deduction so you can evaluate the details further:  

 

Tuition and Fees Deduction

 

American Opportunity Credit

 

Lifetime Learning Credit

 

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Hal_Al
Employee
April 16, 2020

"I only made $6000 (ish) last year so I wouldn't exceed an adjusted gross income cap for education credits".

The income limit is $55,000 to $80,000 depending on which credit you're claiming.

 

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.

 

If you are eligible, you have answered  something wrong, in the interview. But, a lot of people are just not eligible. See https://www.irs.gov/Individuals/AOTC

or https://www.irs.gov/individuals/llc