Comments on: The American Opportunity Tax Credit: Benefits for Students http://blog.turbotax.intuit.com/2010/12/10/the-american-opportunity-tax-credit-benefits-for-students/ It's all about the refund Tue, 21 May 2013 20:45:12 +0000 hourly 1 http://wordpress.com/ By: liz http://blog.turbotax.intuit.com/2010/12/10/the-american-opportunity-tax-credit-benefits-for-students/#comment-25304 Sun, 06 Mar 2011 22:27:02 +0000 http://blog.turbotax.intuit.com/?p=4375#comment-25304 Turbotax and others who summarize the American Opportunity Credit leave out a very important fact that’s way too important to have to “dig” through instructions for: That if you’re a student who qualifies for the credit and claims the credit for themselves (i.e., parents don’t claim student), and has made no income for the year, the student WILL NOT get the refundable credit because parents are still alive.

]]> By: Sheril Schmidt http://blog.turbotax.intuit.com/2010/12/10/the-american-opportunity-tax-credit-benefits-for-students/#comment-25303 Mon, 14 Feb 2011 13:30:33 +0000 http://blog.turbotax.intuit.com/?p=4375#comment-25303 Can you please explain this portion of the American Opportunity Credit: “This refundable portion of the tax credit is limited to 40% of what you would qualify for, so if you owe no taxes but had education expenses to claim, the most you could receive is $1,000.” My daughter would like to claim this refund but she didn’t work last year. Can she still get a refund due to the fact that she has “owes no taxes”?

Thanks for your help!

Sheril Schmidt

]]> By: Casey Doyle http://blog.turbotax.intuit.com/2010/12/10/the-american-opportunity-tax-credit-benefits-for-students/#comment-25301 Mon, 31 Jan 2011 22:43:16 +0000 http://blog.turbotax.intuit.com/?p=4375#comment-25301 Turbotax is wrongfully giving me the american opportunity tax credit. 2010 was my 5th year of college. How do I fix this?

]]> By: John David Murphy http://blog.turbotax.intuit.com/2010/12/10/the-american-opportunity-tax-credit-benefits-for-students/#comment-25300 Thu, 16 Dec 2010 16:03:45 +0000 http://blog.turbotax.intuit.com/?p=4375#comment-25300 Do you have a quick guide for consultants?

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