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New Member
posted Mar 8, 2024 7:45:43 AM

Why did I receive less education credit if my situation is identical to last year?

0 2 650
2 Replies
Level 15
Mar 8, 2024 8:04:02 AM

We cannot see your tax return and do not know which education credit you are asking about.  If it is the Lifetime Learning Credit---that is a non-refundable credit which can only be used to reduce your tax owed to zero.  So---you get enough to reduce your tax owed to zero and no more.  LLC is not added as a refund.

 

Or....are you asking about a different credit?

 

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

Level 15
Mar 8, 2024 1:15:14 PM

You entered something wrong, either this year or last 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. For most of them, they simply aren't eligible. 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 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. 

You cannot claim a 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

 

If you are eligible, you have answered  something wrong, in the interview. But, a lot of people are just not eligible. See Also see this TT FAQ https://ttlc.intuit.com/questions/3383321-why-didn-t-i-get-a-credit-or-deduction-for-education-expen...

 https://www.irs.gov/Individuals/AOTC

https://www.irs.gov/newsroom/american-opportunity-tax-credit-questions-and-answers

https://www.irs.gov/credits-deductions/individuals/education-credits-questions-and-answers

 https://www.irs.gov/individuals/llc

https://ttlc.intuit.com/community/college-education/discussion/i-have-a-1098-t-form-that-i-received-from-my-school-and-i-entered-all-the-information-but-it-said-i/01/998249#M23054