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epcot694
New Member

Does turbo tax automatically give me the american opportunity credit/

 
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2 Replies
Hal_Al
Level 15

Does turbo tax automatically give me the american opportunity credit/

Q.  Does turbo tax automatically give me the American opportunity credit?

A. Yes and no.  You have to initiate the education interview (essentially "enter the 1098-T"), follow the interview and if you qualify, it's "automatic". 

 

In TurboTax (TT), enter at:

Federal Taxes Tab (Personal for H&B version)

Deductions & Credits

-Scroll down to:

--Education

  --Education Expenses

 

You don't say if you are the parent or the student.  

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. You usually must have actually paid tuition, not had it paid by scholarships & 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.

ColeenD3
Expert Alumni

Does turbo tax automatically give me the american opportunity credit/

No. You must enter your 1098-T.

 

Here's how to enter your 1098-T in TurboTax:

  1. Open or continue your return
  2. Select Search and search for 1098-t, then select the Jump to link in the search results
    • Another way to find this section is to select Federal from the left menu, then Deductions & Credits. Locate the Education section and select Show more, then Start or Revisit next to Expenses and Scholarships (Form 1098-T)
  3. If you land on Your Education Expenses Summary:
    • Select Edit next to the name of the student you’re entering a 1098-T for (select Add a student if the student isn’t listed)
    • On the next screen, select Edit next to the school name. You can enter the info from your 1098-T on the following screen
  4. If you land on Do you want to enter your higher education expenses?:
    • Answer Yes
    • Answer Yes to Did you get a 1098-T for the year? and Continue
    • On the next screen, you can choose how you'd like to add your 1098-T. You can upload a digital copy from your computer or type it in yourself. Select which option you'd like and Continue
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