Are there any tax breaks for me since I'm a student?

herminiamini — Thu, 26 Mar 2020 21:42:09 GMT

Re: Are there any tax breaks for me since I'm a student?

ThomasM125 — Thu, 26 Mar 2020 21:56:31 GMT

You may be entitled to an education credit, if you were not listed as someone else's dependent. You would need to enter your form 1098-T in TurboTax to see if you qualify.

Re: Are there any tax breaks for me since I'm a student?

Hal_Al — Thu, 26 Mar 2020 22:00:20 GMT

Probably not.

If you are claimed as a dependent, your parents claim the tuition credit.

If you are not a dependent, there is an up to $1000 refundable credit available to undergrads (half time or more). But, a full time unmarried student, under age 24, 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. You usually must have actually paid tuition, not had it paid by scholarships & grants. It is usually best if the parent claims that credit.

You cannot claim a credit if you are, or can be, claimed as a dependent by someone else.

Other than that, there are no special breaks for students.

topic Are there any tax breaks for me since I'm a student? in Education

Are there any tax breaks for me since I'm a student?

Re: Are there any tax breaks for me since I'm a student?

Re: Are there any tax breaks for me since I'm a student?