@Hal_Al
Hello,
If possible could you please give your input if I have done this correctly to claim the AOTC?
I am trying to claim the AOTC credit for my student that is in their second year of college.
Our 1098 T info:
BOX 1: $37,019.95
BOX 5: $44,085.00
Student at least half time: X
[The rest of the blanks on the form are empty.]
QEE (books): $128
Room & Board amounts for the 2024: $9,806
Scholarship Amount restricted to Tuition ONLY: $34,650
Can we allocate $9,435 of his scholarship money (the difference left after deducting the tuition only scholarship) to his room & board and claim that for my students income? (They earned $2,400 over summer with an on campus job, they received a W2 for this job and that was their only income - so even with the $9,435 that's not enough for them to be required to file their taxes, correct?)
This gives me the following:
Education Credit $1,275
Refundable American Opportunity Credit $850
For a total of $2,125
Does this look correct? Or do I need to do something differently?
Thank you in advance.
