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Education
Q. I’m 35 I support myself, no parents, and got Pell grant. Do I qualify for $1000 refund from college tax credit?
A. Yes, as long as you cannot be claimed as a dependent by someone else. The rules about college students not being able to get the refundable portion (up to $1000) of the American Opportunity Credit do not apply to half time or more students above age 23. If your Pell grant exceeds your qualified expenses, you may have to declare some of your scholarship as taxable income. See "loop hole" explanation below.
October 26, 2024
2:29 PM