If your son is under the age of 24, you would still be eligible to claim him as a dependent if you provide more than half his living expenses.
However, you do not have to claim him, and if you choose not to, he can still claim the American Opportunity Credit. However, he would have to mark that he can be claimed as a dependent. For your son to claim the American Opportunity Credit, he will need his 1098-T furnished by his school:
- In the Federal > Deductions & Credits section of your return, scroll down to Education and click Show more.
- Click Start/Revisit next to Expenses and Scholarships (1098-T).
- Enter your 1098-T
- Go through the rest of the questionnaire. If he meets all the requirements, he will receive the credit.
If he does not have enough taxable income to have to pay taxes in 2021, he will still receive $1,000 of the American Opportunity Credit. That is the refundable portion.
The American Opportunity Credit requires TurboTax Deluxe.
