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March 12, 2023
Question

Working on an Associate, Bachelor's, or Graduate Degree

  • March 12, 2023
  • 3 replies
  • 0 views

Why does answering "yes" to this question reduce the amount of refund I get?

    3 replies

    Employee
    March 12, 2023

    Deleted 

    Hal_Al
    Employee
    March 12, 2023

    No.

    If anything, it might increase your refund. You must be a degree candidate to get the more generous American Opportunity Credit (AOC or AOTC).

    Employee
    March 13, 2023

    @Scott155 Are you certain the amount that was reduced was a refund----or did it say "TAX DUE" by that amount?  If you are working on an associate or bachelor's degree you may be getting the American Opportunity Credit---which can reduce your tax due and which has a refundable amount.  If you are working on a graduate degree, you may be getting the Lifetime Learning Credit, which is not refundable, but which can reduce your tax owed.

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**