Hal_Al
Level 15

Education

Yes, it's #2, there is no taxable income in your return.

 

$2400 of reportable  income is quickly wiped out by your $14,600 standard deduction.  Why are you even filing a tax return, with only $2400 of income?

 

Full time students, under age 24, usually still qualify to be a dependent of their parent.  The lifetime Learning Credit would be worth $2000 to someone who can claim you as a dependent, but worth $0 to you. 

 

You say you have not been a dependent for multiple years?  Who claimed the refundable credit during your undergrad years?  

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 the (up to) $1000 refundable 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#en_US_2024_publink53002gd0e674