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January 30, 2023
Question

Nobody else can claim me, I have taxable income and I had qualified education expenses as a grad student, intuit says I am not eligible, what am i missing/

  • January 30, 2023
  • 2 replies
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2 replies

Hal_Al
Employee
January 30, 2023

Grad students are not eligible for the more generous  and partially refundable American Opportunity credit (AOC). You are eligible for the Lifetime Learning Credit (LLC).  The LLC is non refundable. That is, it can only be used to offset an actual tax liability.

 

If you are eligible, you have answered  something wrong, in the interview. But, a lot of people are just not eligible. See Also see this TT FAQ https://ttlc.intuit.com/questions/3383321-why-didn-t-i-get-a-credit-or-deduction-for-education-expen...

 

https://www.irs.gov/credits-deductions/individuals/education-credits-questions-and-answers

 https://www.irs.gov/individuals/llc

 

 

January 30, 2023

If you are referring to the American Opportunity tax credit, you must meet the following requirements to claim:

 

  • has not completed the first four years of post-secondary education
  • enrolled in at least one academic semester during the tax year
  • maintains at least half-time status in a program leading to a degree or other credential
  • never been criminally charged with a drug conviction

If you are referring to the Lifetime Learning Credit, you must meet the following requirements to claim:

 

  • you paid qualified education expenses for higher education
  • you are enrolled at an eligible education institution

TurboTax will ask a series of questions to verify your eligibility.  If you meet all the requirements, you can double-check your responses by following the following steps:

 

  1. Select Deductions & Credits on the left-hand side panel
  2. Select Edit/Add beside Expenses and Scholarships
  3. View Selections made during the interview

 

For more information, see the link below:

 

Lifetime Learning Credit

American Opportunity Tax Credit

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