American Opportunity Credit

[Lucho]

Student 21 years old supporting himself (living in parents house but paying his fair rent and all other expenses) has $1,200.00 tuition and school materials expenses.

Reading form 8863 line 13 instructions tell me that this student can not claim the American Opportunity Credit because he is under 24; and not filing a joint return and also he is blessed to have his parents alive. Am I correct in my interpretation when reading these instructions?

I forgot to mention that student is single.

Thank you again

Lucho

[Don in Upstate NY]

Student 21 years old supporting himself (living in parents house but paying his fair rent and all other expenses) has $1,200.00 tuition and school materials expenses.

Reading form 8863 line 13 instructions tell me that this student can not claim the American Opportunity Credit because he is under 24; and not filing a joint return and also he is blessed to have his parents alive. Am I correct in my interpretation when reading these instructions?

I forgot to mention that student is single.

Since he is supporting himself, I assume that he is not a dependent of his parents and is filing claiming himself.

As long as he meets the other conditions (undergrad, no drug felonies, etc.) he can claim the AOC. Line 13 questions whether he can claim the refundable portion. Without looking at the instructions, I believe the criterion is whether he has earned income to justify his support assertion.

[Pacun]

See other posting

[Lucho]

See other posting

Thaank you. Have a blessed Sunday

Lucho