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American Tax Credit ?

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2 Replies
DawnC
Expert Alumni

American Tax Credit ?

What tax credit are you asking about?   You can find the American Opportunity Tax Credit in the Education section within the Deduction and Credits section.   You can search for 1098-T or education to be taken to that section. 

 

Education Credits

 

 

 

 

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Hal_Al
Level 15

American Tax Credit ?

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. 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.

 

Reference: Line 7 instructions for form 8863. https://www.irs.gov/instructions/i8863

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