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13ravin
New Member

I really need help. Where can I enter the numbers for American Opportunity Tax Credit. I don't have the 8863 form from IRS. This is $2500 tax credit for student.

 
2 Replies
JotikaT2
Expert Alumni

I really need help. Where can I enter the numbers for American Opportunity Tax Credit. I don't have the 8863 form from IRS. This is $2500 tax credit for student.

You will need Form 1098-T to input this information into TurboTax.

 

To enter your 1098-T information:

  1.  Go to the Federal section of the program
  2.  Select "Deductions & Credits"
  3.  Select "Expenses and Scholarships (Form 1098-T)" and click start

Continue through the screens and answer the questions as applicable. TurboTax will determine which credit you qualify for based upon your answers.

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Hal_Al
Level 15

I really need help. Where can I enter the numbers for American Opportunity Tax Credit. I don't have the 8863 form from IRS. This is $2500 tax credit for student.

"This is $2500 tax credit for student.". 

Probably not; it's usually a $2500 credit for the student's parent.

 

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, 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.  

 

You cannot claim a credit if you are, or can be, claimed as a dependent by someone else. 

 

You don't get a form 8863, from the IRS. You get a form 1098-T from your college.

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