turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

dav547
New Member

I had no job for the past year, I was only studying abroad , should I do my taxes ?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
LinaJ2018
Intuit Alumni

I had no job for the past year, I was only studying abroad , should I do my taxes ?

If you did not work or did not meet the filing requirements, you are not required to file a tax return.  Click here: Filing requirements 

However, without a job and income, you might still be able to claim a partial portion of the American Opportunity Tax Credit, but not Lifetime Learning Credit or Tuition Fees Deductions.

The American Opportunity Credit provides up to $2,500 for paying for an undergraduate student's tuition. The credit is partially refundable, meaning that you might be able to get 40 percent of the tax credit even if you have no tax liability. The other 60 percent of the credit can only be used to offset your tax liability, therefore, if you did not work and have no tax liability, you will not get this portion of the credit. 

 

However, for Lifetime Learning Credit, the credit is not refundable at all, which means that you can only use it to reduce your tax liability. If you don't work and don't have any other taxable income, you will not be able to use the credit. 

In order to qualify for an educational credit or deduction, the school must be an educational institution eligible to participate in a student aid program run by the U.S Department of Education.  To check your foreign school is eligible, click here:

https://fafsa.ed.gov/spa/fsc/#/SEARCH?locale=en_US

 

View solution in original post

1 Reply
LinaJ2018
Intuit Alumni

I had no job for the past year, I was only studying abroad , should I do my taxes ?

If you did not work or did not meet the filing requirements, you are not required to file a tax return.  Click here: Filing requirements 

However, without a job and income, you might still be able to claim a partial portion of the American Opportunity Tax Credit, but not Lifetime Learning Credit or Tuition Fees Deductions.

The American Opportunity Credit provides up to $2,500 for paying for an undergraduate student's tuition. The credit is partially refundable, meaning that you might be able to get 40 percent of the tax credit even if you have no tax liability. The other 60 percent of the credit can only be used to offset your tax liability, therefore, if you did not work and have no tax liability, you will not get this portion of the credit. 

 

However, for Lifetime Learning Credit, the credit is not refundable at all, which means that you can only use it to reduce your tax liability. If you don't work and don't have any other taxable income, you will not be able to use the credit. 

In order to qualify for an educational credit or deduction, the school must be an educational institution eligible to participate in a student aid program run by the U.S Department of Education.  To check your foreign school is eligible, click here:

https://fafsa.ed.gov/spa/fsc/#/SEARCH?locale=en_US

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies