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How much can I get refunded from going to college for my first year

It says 1000
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3 Replies

How much can I get refunded from going to college for my first year

We can’t see your return and know nothing about your tax situation. 

How much can I get refunded from going to college for my first year

You might be trying to ask about the American Opportunity Credit. -- but we cannot see any of your information and do not have enough information from you.   If someone else can claim you as a dependent, then that person can get the education credit--not you.  

 

https://ttlc.intuit.com/questions/1901172-what-are-education-tax-credits

 

https://ttlc.intuit.com/questions/1901172-what-education-tax-credits-are-available    

 

https://www.irs.gov/help/ita/am-i-eligible-to-claim-an-education-credit

 

https://ttlc.intuit.com/questions/3262983-who-is-eligible-to-take-the-american-opportunity-tax-credi...

 

https://ttlc.intuit.com/questions/3383321-why-didn-t-i-get-a-credit-or-deduction-for-education-expen...

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Hal_Al
Level 15

How much can I get refunded from going to college for my first year

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. Yes, there is a (up to) $1000 refundable credit  available and it's a dollar for dollar match on the first $1000 of tuition paid. But, most college age students simply aren't eligible for it.  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 (AOC or AOTC) 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 (the AOC is worth up to $2500 for them).

You cannot claim the (up to) $1000 refundable 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#en_US_2024_publink53002gd0e674 

https://www.irs.gov/instructions/i8863

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