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Solved

Can I claim the Education Tax Credits and Deductions for myself?

Forum|Forum|2 years ago
January 9, 2024
2 replies
0 views

can I claim the Education Tax Credits and Deductions for myself? if yes. I haven't claimed that tax credit since I started school. How can I go back and claim past years?

TurboTax Online

Best answer by Hal_Al

Q. Can I claim the Education Tax Credits and Deductions for myself?

A. Probably not.

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 (AOC)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 a credit if you are claimed as a dependent by someone else.

If the student actually has a tax liability, there is a provision to allow him to claim a non-refundable tuition credit. But then the parent must forgo claiming the student as a dependent, and the $500 other dependent credit. The student must still indicate that he can be claimed as a dependent, on his return. This is worth up to $2500 (AOC shifts to all non refundable).

Q. How can I go back and claim past years?

A. You are only allowed to claim the AOC four times in your undergrad career. That includes the times your parents claimed it. So, you have verify that, first. Then you file amended returns for those years.

Employee

I will page @Hal_Al

Employee

We cannot say whether you are eligible for education credits or not since we cannot see any of your information. If you could be claimed as someone else's dependent, you are not eligible for education credits. The education credits go to the person who could claim you. If you could not be claimed, then you may be eligible for education credits, and might be able to amend back as far as 2020, which is the last year for which you can amend and still get a better refund.

https://ttlc.intuit.com/questions/1901172-what-are-education-tax-credits

https://www.irs.gov/help/ita/am-i-eligible-to-claim-an-education-credit

https://ttlc.intuit.com/questions/3262983-who-is-eligible-to-take-the-american-opportunity-tax-credit

https://ttlc.intuit.com/questions/3383321-why-didn-t-i-get-a-credit-or-deduction-for-education-expenses

https://ttlc.intuit.com/questions/1901526-what-s-the-income-limit-for-the-american-opportunity-and-lifetime-learning-credits

https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-lifetime-learning-credit/00/26844

https://ttlc.intuit.com/questions/3262984-who-is-eligible-for-the-lifetime-learning-credit

**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.**

Hal_AlAnswer

Employee

Q. Can I claim the Education Tax Credits and Deductions for myself?

A. Probably not.

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 (AOC)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 a credit if you are claimed as a dependent by someone else.

If the student actually has a tax liability, there is a provision to allow him to claim a non-refundable tuition credit. But then the parent must forgo claiming the student as a dependent, and the $500 other dependent credit. The student must still indicate that he can be claimed as a dependent, on his return. This is worth up to $2500 (AOC shifts to all non refundable).

Q. How can I go back and claim past years?

A. You are only allowed to claim the AOC four times in your undergrad career. That includes the times your parents claimed it. So, you have verify that, first. Then you file amended returns for those years.