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ccrrider
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full time student

Is there a tax advantage to being a full time student?

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2 Replies

full time student

There maybe some tax breaks (if you are not being claimed by someone else).  Your status as a full-time student doesn't exempt you from federal income taxes, but it also means you may not have to file a federal tax return. ... The American Opportunity Tax Credit provides a refundable credit of up to $2,500 when you pay for certain educational expenses, including tuition and books.

 

Enter your information into TurboTax & the software will give you any credits you qualify for.

full time student

Possibly - It depends if you are the student filing your own tax return and cannot be a dependent, or if you are a parent claiming a child as a dependent.

 

Being a full-time student allows a perent to claim the student as a qualifying child dependent beyond the normal age 18 cut off age to age 23 (if the other Qualifying child requirements are met).

 

The taxpayer (parent or student)  claiming the full-time student might also qualify for certain educational credits (AOC or Lifetime Learning Credit) if otherwise qualified.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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