Question

I am a first year college student. How do I get American Opportunity Credit?

Forum|Forum|5 years ago
March 23, 2021
1 reply
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Hi,

I have about $5000 earning in 2020 from my summer jobs and paid about 30k tuition. When I enter 1099T, Turbox tax selected $4000 education deduction which has no extra tax refund for my case because my low income. Should I get $1000 American Opportunity Credit refund instead? I am not sure what is the problem.

Thanks!

TurboTax Home & Biz Windows

D

DanaB27

If you were under age 24 at the end of 2020 and the conditions below apply to you, you cannot claim any part of the American opportunity credit as a refundable credit ($1,000) on your tax return.

1. You were:

Under age 18 at the end of 2020, or
Age 18 at the end of 2020 and your earned income (defined later) was less than one-half of your support (defined later), or
Over age 18 and under age 24 at the end of 2020 and a full-time student (defined later) and your earned income was less than one-half of your support.

2. At least one of your parents was alive at the end of 2020.

3. You're not filing a joint return for 2020.

Please see Instructions for Form 8863 (2020) Education Credits (American Opportunity and Lifetime Learning Credits) for details.

Generally, if you were your parents dependent then they will get to claim the educations credits. Please see What education tax credits are available? for additional information.

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