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tildavick
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Can I file education expenses that was paid in 2024?

Can I file education expenses that I paid for my self in 2024?
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Hal_Al
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Can I file education expenses that was paid in 2024?

Q. Can I file education expenses that I paid for my self in 2024?

A. Probably not.

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 the (up to) $1000 refundable 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#en_US_2024_publink53002gd0e674

 

 Here are the four main points on the 1098-T:

https://ttlc.intuit.com/community/college-education/discussion/i-need-help-with-1098t-section-colleg...

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1 Reply
Hal_Al
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Can I file education expenses that was paid in 2024?

Q. Can I file education expenses that I paid for my self in 2024?

A. Probably not.

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 the (up to) $1000 refundable 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#en_US_2024_publink53002gd0e674

 

 Here are the four main points on the 1098-T:

https://ttlc.intuit.com/community/college-education/discussion/i-need-help-with-1098t-section-colleg...

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