You'll need to sign in or create an account to connect with an expert.
Unless your university participates in a student aid program administered by the US Department of Education, then it would not be considered an eligible education institution for the purpose of the American Opportunity Tax Credit and you would not qualify to claim the credit.
To be sure, follow this link to look up your university: https://www.irs.gov/individuals/eligible-educational-inst
For more details about the American Opportunity Tax Credit, see below.
https://ttlc.intuit.com/replies/5358150
Unless your university participates in a student aid program administered by the US Department of Education, then it would not be considered an eligible education institution for the purpose of the American Opportunity Tax Credit and you would not qualify to claim the credit.
To be sure, follow this link to look up your university: https://www.irs.gov/individuals/eligible-educational-inst
For more details about the American Opportunity Tax Credit, see below.
https://ttlc.intuit.com/replies/5358150
My son goes to a college on the US Dept of Ed list, but the school does not issue 1098t and does not have an EIN. I am not trying to take the American Opportunity Tax Credit, but I do want to be exempt from tax on the gain in our 529 since we paid tuition to a qualified school...but Turbotax will not seem to let me do it without an EIN. Can anyone recommend a method?
You can just not report the 1099-Q, at all, if your student-beneficiary has sufficient educational expenses, including room & board (even if he lives at home) to cover the distribution. When the box 1 amount on form 1099-Q is fully covered by expenses, TurboTax will enter nothing about the 1099-Q on the actual tax forms. But, it will prepare a 1099-Q worksheet for your records. You would still have to do the math to see if there were enough expenses left over for you to claim the tuition credit. You also cannot count expenses that were paid by tax free scholarships. You cannot double dip!
On form 1099-Q, instructions to the recipient reads: "Nontaxable distributions from CESAs and QTPs are not required to be reported on your income tax return. You must determine the taxability of any distribution."
The otherway around, what if i got a bachelors outside of USA and getting masters in USA.
My bachelors wasn't eligible to get AOTC because it was not a qualified institution. Now do i not qualify because i already got a four year degree?
Q. Now I do not qualify, because I already got a four year degree?
A. Yes. The foreign degree qualifies as having already completed 4 years of post secondary education.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
joseph_ld
Level 2
Dayvontae
New Member
nomad
Level 1
jadaadams44
Returning Member
ibrahim20222
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.