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New Member
posted Jun 4, 2019 6:01:15 PM

I am an unemployed student. What form do I use to file my taxes? And can I use the hope credit and lifetime learning credit?

which credit should I use, the hope credit, the lifetime learning credit or the american opportunity credit?

I have no income, can i still use form 1040?

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1 Best answer
New Member
Jun 4, 2019 6:01:17 PM

If you have no income, and no tax due on that income, you cannot use the lifetime learning credit, nor the $1500 part of the AOC.  Those credits can only be used to reduce your taxable income to zero, and with no taxable income, they would not help you.  There is a portion of the AOC that can be paid to you in cash, whether you have taxable income or not, but only if you are at least a half-time student, and not a dependent of your parents.  If your parents can claim you as a dependent, you cannot claim this credit.

3 Replies
Level 7
Jun 4, 2019 6:01:16 PM

With no income how are you paying your tuition? How old are you? Can your parents claim you as a dependent?

New Member
Jun 4, 2019 6:01:17 PM

If you have no income, and no tax due on that income, you cannot use the lifetime learning credit, nor the $1500 part of the AOC.  Those credits can only be used to reduce your taxable income to zero, and with no taxable income, they would not help you.  There is a portion of the AOC that can be paid to you in cash, whether you have taxable income or not, but only if you are at least a half-time student, and not a dependent of your parents.  If your parents can claim you as a dependent, you cannot claim this credit.

Level 7
Jun 4, 2019 6:01:19 PM

And even if the parents can't claim him, if the student is under 24, has a least one living parent, and has earned income less than one half his support that portion of the AOC isn't paid beyond offsetting other taxes.