Hi friends, I'm currently using the TurboTax 2019 Deluxe desktop tool to get my tax return from 2019.
I was a student in 2019 and the app said I was qualified for the tuition deduction. But after done everything, it said my tax refund would be $0 in the summary. I went through the exact same process for 2020 and got a refund.
There is a screenshot of the tax summary for 2019 (left) and 2020 (right). Please help me with this if you have any idea! Thank you so much!
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Well if you have no income and no tax on the income there is nothing to deduct a credit from. What is the 2800 Total Payments from in 2020? A lot of the lines are different so you didn't do it the same way for both years.
The tuition deduction is NOT a refundable credit so there is nothing to be refunded on the 2019 return. And the $2800 refund shown on the 2020 return is from the refundable Stimulus credit ($1400 x 2 people listed on the return) but it will only be paid if you did not get the advance stimulus payment already. On both tax years you are showing no tax and no taxable income.
@Critter-3 I thought about the 2800 being the stimulus but this is for a 2020 return, not 2021. For 2020 the Recovery Rebate Credit would be 1200+600 and show up as a credit.
@VolvoGirl @Critter-3 - and the remaining $1,000 could be a refundable AOTC credit; however, it's really easy to get this credit incorrect - it is confusing how it is all worded.
if you are not claimed* by anyone else BUT
a) you are under 24 and provide less than 50% of your support AND
b) at least one of your parents is alive AND
c) you filed other than MFJ
you are NOT eligible for the refundable credit, which if you have over $4,000 of Qualified education expenses is $1,000. The rules negate typical college kids whose parents make a lot of money (and therefore not eligible for AOTC) from claiming the credit in any event.
*the issue of COULD YOU be claimed is not germane here; it is literally were you claimed by anyone else?
Thanks! This is very helpful!
Yes!
Yes, I haven't claimed the stimulus money yet.
Yeah, it could be. I'm so confused now lol
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