will my son qualify for American opportunity credit

[stantonporsche]

my son who worked last summer will be applying for American opportunity credit 

I was told we could get some money back with this

he just needs 1098T form right?

[JulieS]

Yes, if you son is working on a degree and is in the first four years of college, he may be eligible to get the American Opportunity Credit.

He can apply for the credit if he is not claimed as a dependent for the year. If he is claimed as a dependent, the credit can be claimed by the taxpayer who claimed him as a dependent.

The 1098-T has most of the required information, but he may need to provide additional information about books, fees and supplies.

If a 529 plan, or ESA,  was used to pay for any of the education expenses, Form 1099-Q will need to be used. 

[stantonporsche]

where on turbo tax deluxe do you enter information to get money back for American opportunity credit 

[JulieS]

To apply for the education credits:

1. Select Federal on the left side menu.
2. Under  Deductions and Credits, find Education.
3. Expand the section and click Start to the right of Expenses and Scholarships (Form 1098-T).
4. Answer the first question Yes.
5. Select Yes and click Continue.
6. Choose whether you want to upload the 1098-T from you computer, or type it in yourself. 
7. Click Continue and follow the on screen instructions.
8. Keep going until you get to Next, We'll See Which Credit Will Save You the Most.
9. Select Maximize my education tax break.
10. Click Continue, you will see the amount of the credit.