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Question Regarding American Opportunity Credit
Good Evening, My question is about if I'm eligible claiming American Opportunity Credit. So, I goto College at New York City. I Receive both Fafsa and Tap combined about $5,500 per Semester. My Tuition per semester is about $2,700-2,800. I didn't know about this credit. So I made majority of school qualifying spendings in cash. Which I have to take out about $1,800-1,900 out of my pocket. But I don't have saved receipt for other spending beside I only have one receipt that I kept is the $1,800-1,900. Could I claim that $1,800-1,900 Tax credit. If I do Would it rise a red flag for IRA for audit. Also, my school didn't provide 1098T.
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‎February 16, 2021
7:47 PM