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New Member
posted Mar 18, 2024 10:03:36 AM

I have received the American Opportunity Credit. I looked up this credit and it states I need to fill out the Form 8863. Where do I fill out and Submit this in Turbotax?

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1 Replies
Level 15
Mar 18, 2024 10:07:25 AM

In TurboTax (TT), enter at:

Federal Taxes Tab (Personal for H&B version)

Deductions & Credits

-Scroll down to:

--Education

  --Education Expenses and Scholarships (1098-T)

TT automatically fills out form 8863 and e-files it with your tax return.

 

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 a 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