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Hi, to receive the American Opportunity Credit on my education do I need a job or a form salary? Or can I get it regardless?

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3 Replies

Hi, to receive the American Opportunity Credit on my education do I need a job or a form salary? Or can I get it regardless?

If you are being claimed as a dependent on someone else's tax return then you do not receive the credit at all.  The person claiming you as a dependent receives the credit on their tax return when they report the eligible education expenses paid.

See this TurboTax Tax Tip - https://turbotax.intuit.com/tax-tips/college-and-education/what-is-the-american-opportunity-tax-cred...

Hi, to receive the American Opportunity Credit on my education do I need a job or a form salary? Or can I get it regardless?

If you are NOT being claimed as a dependent you do not need a job or earned income to receive the AOC.  However, you would not receive the maximum credit of $2,500.

Depending on the amount of qualified education expenses paid to an eligible post-secondary school you could receive up to $1,000 credit if you have no income of any kind to report on a federal tax return.

Hal_Al
Level 15

Hi, to receive the American Opportunity Credit on my education do I need a job or a form salary? Or can I get it regardless?

Yes,  you need a job (or other earned income, such as self employment), but only if you are under 24.  No, you can not get it "regardless".  There are multiple conditions and requirements.

 

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 student, under age 24, 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 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

 

 

If you are eligible, you have answered  something wrong, in the interview. But, a lot of people are just not eligible. See https://www.irs.gov/Individuals/AOTC

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