- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
Because of your income and status, you are not eligible for either tax credit.
1) generally, if you are under 24, filing single and one of your parents is alive, you are not eligible for the REFUNDABLE portion of AOC. That would be $1000 in this case.
2) to be eligible for the NON-refunable portion of AOC (or LLC) , then you must have a tax liability, In other words the non-refunable credit can't take Line 22 of Form 1040 below 0. Since you income is less than $12,550 your tax liability is zero and therefore, there is no benefit available from either credit.
I suspect you completed TT correctly. Why aren't your parents claiming you (unless their income is too high, they would be eligible for the $2500 AOC tax credit)
‎April 13, 2022
4:50 AM