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April 27, 2021
Question

None of the reasons are true about why I didn't get the American opportunity. I was told I would get it for all the four years im in college. Is this a mistake?

  • April 27, 2021
  • 1 reply
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I got $0 from the american opportunity credit. I received it last year and nothing has changed. Why is this?

1 reply

Hal_Al
Employee
April 27, 2021

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 It could be that last year was wrong. 

 

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. 

You cannot claim a credit if you are, or can be, claimed as a dependent by someone else.

 

*If you are under 24, in the personal info section of TurboTax (not the education section) you will be asked if more than half you support comes from your earned income. You must answer that question yes.