I have been in school for 7 years slowly completing my bachelors. 4 of those years I lived at home while paying my own education, but parents told me to give them tuition tax forms. They might have claimed The American opportunity tax credit, but no way of knowing because I am now estranged from them. I have received the credit for the past 3 years (2015, 2016, and 2017) as I am filling my own taxes now and assumed they never used it. I was reading more about the AOTC and I am concerned I have received the credit more than 4 times, which is the limit. Can I call the IRS and have them look up my social to see if the AOTC was used while I was dependent? If my parents did receive the credit, lets say 2 years they did, would I have to amend my last tax return for 2017 to take that credit off? If they did 3 times, do i amend the last 2 years...and so on? What happens if I amend my tax returns to remove the credit? Do I get fined?
You'll need to sign in or create an account to connect with an expert.
You would not be able to see your parent's tax transcripts without their permission. The request form requires a signature from the taxpayer.
When I worked with the IRS, we were never allowed to disclose sensitive information on the phone so I imagine that is still the policy which would prevent you from calling them. You could send a letter, but I cannot say if you will get a response.
As far as the usage of the AOTC. If you have used it too many times, the IRS will notify you for additional information. Considering you have not received a letter yet, perhaps your parents did not use it.
When the IRS notices a discrepancy in your tax file, they will notify you and if you took a credit you should not have used, they will charge you the difference in what you should have paid plus penalties and interest.
If you do not want to risk it this year you could possibly use the Lifetime Learning Credit if you qualify.
To qualify for the Lifetime Learning Credit, the eligible student (whether it's you, a spouse, or a dependent) will need to meet these criteria:
You would not be able to see your parent's tax transcripts without their permission. The request form requires a signature from the taxpayer.
When I worked with the IRS, we were never allowed to disclose sensitive information on the phone so I imagine that is still the policy which would prevent you from calling them. You could send a letter, but I cannot say if you will get a response.
As far as the usage of the AOTC. If you have used it too many times, the IRS will notify you for additional information. Considering you have not received a letter yet, perhaps your parents did not use it.
When the IRS notices a discrepancy in your tax file, they will notify you and if you took a credit you should not have used, they will charge you the difference in what you should have paid plus penalties and interest.
If you do not want to risk it this year you could possibly use the Lifetime Learning Credit if you qualify.
To qualify for the Lifetime Learning Credit, the eligible student (whether it's you, a spouse, or a dependent) will need to meet these criteria:
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Taxes_Are_Fun
Level 2
DarrinK
New Member
skylee_hall
New Member
in Education
Zimers
Level 1
aofigueroa117
New Member
in Education