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dms6526
New Member

I'm 25 years old, a full time student, with no income. I am eligible for student tax credit, but how do I file when I have no income to attach it to? I live off of loans.

My parents are going nuts that they can't claim me as a dependent because I am 25, but because of my loans and grant money I am able to pay for my needs, school, and any bills or transportation I have. I don't have an income because I go to school taking 23 to 30 credits per semester at a time. 

The IRS website says I have to fill out form 8863 and attach it to my 1040 or 1040A, but how do I do that if I have no income? How do I file it in general? Can I do it on TurboTax? What steps do I take? This is making my head spin.

2 Replies
Critter
Level 15

I'm 25 years old, a full time student, with no income. I am eligible for student tax credit, but how do I file when I have no income to attach it to? I live off of loans.

If you have used the American Opportunity Credit 4 times already or you are taking graduate classes then there is no education credit for you to take.
MaryK1
Level 9

I'm 25 years old, a full time student, with no income. I am eligible for student tax credit, but how do I file when I have no income to attach it to? I live off of loans.

The American Opportunity Credit can only be claimed for four years so you must check to see how many years your parents claimed it with you as a student.  The AOTC is part refundable and part nonrefundable- so if you can claim it you can complete your return and try to efile it but you may be required to mail it (because you have no income).

If the AOTC had been claimed four years for you, the Lifelong Learning Credit is a nonrefundable credit which means with no income you would not get a refund.  

In Turbo Tax, be sure you carefully answer the questions about the scholarship, grants, tuition and expenses so that you receive the correct credit.  This is one of the areas that the IRS audits the most so please be sure to document and keep records for all payments that you made.
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