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kongly1123
New Member

I have graduated from University of Southern California in California May 2019, can I get any tax refund for my tuition?

 
2 Replies
DoninGA
Level 15

I have graduated from University of Southern California in California May 2019, can I get any tax refund for my tuition?

You may be eligible for a tax credit on your tax return for qualified education expenses.

To enter, edit or delete Education Expenses -

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Education
  • On Expenses and Scholarships (Form 1098-T), click on the start or update button

Or enter education expenses in the Search box located in the upper right of the program screen. Click on Jump to education expenses

 

Hal_Al
Level 15

I have graduated from University of Southern California in California May 2019, can I get any tax refund for my tuition?

Maybe. More info is needed. 

Since you're asking about graduation year, I assume your parents claimed you as a dependent, in the past, and also claimed your tuition expenses.

There is a 4 time limit for the most erogenous education (tuition) credit, the American Opportunity Credit (AOTC). So, your parents, most likely already claimed that 4 times, and you're not eligible. 

 

Next is the question, can your parents claim you as a dependent for 2019.  If so, you cannot claim one of the other credit or deduction. But, they can. See below (written as if the parent asked the question).

 

Next, did you actually pay tuition, in 2019.  A common situation is that the spring 2019 tuition was paid in December 2018.  In that case, you (or your parents) cannot claim the payment on your 2019 taxes .

 

Either provide more info, or just enter your info in the TT software, TT will tell you if you qualify.

 

Note: it doesn't matter who paid your tuition, you or your parents , or loans, or even a third party. There's even a loop hole to claim a tuition credit, if tuition was paid by grants (but you have to claim the scholarships as income)

_______________________________________________________________________

Graduation year

If he/she was a student (under 24) for at least 5 months and lived with you for more than half the year, and did not provide more than 1/2 his own support for the whole year, you can still claim him. Be sure he knows you're claiming him, so he doesn't claim himself. He can only be claimed once. But, he can "file taxes" without claiming his own exemption.

The real question is who should be claiming him in this "transition" year to adulthood. You two have to agree on who is going to claim his exemption. Each should do their taxes both ways and see which way the family comes out best.  Even then, you have to meet the rules. The rule is that a child of a taxpayer can still be a “Qualifying Child” dependent, regardless of  his income, if:

  1. he is a full time student under 24 for at least 5 calendar months of the year (graduating in May usually means you meet the 5 month rule)
  2. he did not provide more than 1/2 his own support  (scholarships are considered 3rd party support and not support provided by the student). 
  3. lived with the parent (including time away at school) for more than half the year

 

So, it usually hinges on  "Did he provide more than 1/2 his own support in 2019.

The support value of the home you provided is the fair market rental value of the home plus utilities & other expenses divided by the number of occupants. IRS Publication 501 on page 20 has a worksheet that can be used to help with the support calculation. See: http://www.irs.gov/pub/irs-pdf/p501.pdf

 

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