File for a deduction after receiving tax return.

Forum|Forum|6 years ago
July 12, 2019
1 reply
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Hello, So I filed my taxes on time this year and received the return a few months ago. What I didn't realize was that I could get a big break on my taxes by reporting that I was in school paying tuition. Someone mentioned to me that I can still file to get an additional tax return after the fact but I have no idea where to start. Any advice would be much appreciated!

rjs

Level 15

You have to file an amended return to claim the tuition credit. An amended return has to be filed on a special form, Form 1040X. It cannot be e-filed. You have to print it, sign it, and file it by mail. It takes the IRS up to 16 weeks to process an amended return.

Go to the following link for instructions to amend a 2018 tax return that you filed with TurboTax.

How do I amend a 2018 return in TurboTax?

Your tax return is the form you send to the government that shows your income and calculates your tax. The money the government sends back to you is your refund.

Texas Roger

Level 15

Whether or not you will get a "big break" on your taxes for paying tuition in college depends on a number of factors. Assuming you are an undergraduate and qualify for the American Opportunity Credit, credits for qualified education expenses (tuition, fees and in some cases books and course related materials and equipment) are tied to dependency. Whoever claims the student as a dependent (student or someone else) on their tax return is the one who can claim qualified education expenses paid out of pocket or with loans for deduction or credit. It doesn't matter who actually paid the expenses. On the other hand, scholarships that paid non qualified expenses such as room and board must be entered on the student's tax return as income.

The credit is in two parts--non refundable and refundable. The taxpayer can't get any of the up to $1500 of the non refundable portion of the credit if the taxpayer owes no taxes because the non refundable portion only offsets taxes owed. The taxpayer will get none of the up to $1000 of the refundable portion of the credit if (1) the taxpayer claiming the credit is (a) under age 18 or (b) age 18 at the end of the year, and their earned income was less than one-half of their own support or (c) a full time student over 18 and under 24 and their earned income was less than one-half of their own support, and (2) the taxpayer has at least one living parent, and (3) the taxpayer does not file a joint return.

TurboTax will determine whether you qualify for the credit or not when you enter the 1098-T you receive from the school and answer all the questions.