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Full time college student not eligible for American Opportunity due to age (24 years old during the year 2021). Has income of $9,600. Will take the educational credit.
Question: Is he also eligible for EIC without a qualifying child?
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@moonpetty58 wrote:
Full time college student not eligible for American Opportunity due to age (24 years old during the year 2021). Has income of $9,600. Will take the educational credit.
Question: Is he also eligible for EIC without a qualifying child?
If he is age 24, that would mean he potentially *IS* qualified for the American Opportunity Credit.
Assuming he meets all of the qualifications, yes, it likely does qualify for EIC.
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YES, there will be EIC. There are a lot more info. needed to decide if he/she does qualify for EIC.
Is anyone claiming him/her as a dependent? What is (if any) scholarship/grant on 1098T?
Is there any amount on Line 1 of 1098T?
Actually when input all info. your software will automatically calculate the EIC.
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Here is the problem I am running into--after reading IRS publication on EIC:
I have two students wanting to claim the EIC.
1. The one mentioned above--(Has income of $9,600.) and the second one (has income of $5,900). They both are single 24 and 22 years of age. Their main homes are their parents' because they are full time students. They are eligible for EIC without a qualifying child. However, they do not meet the filing status HH or QW, indicated for EIC; nor maintain/keep up a home for more than half the cost. All pertinent data on the 1098Ts are completed correctly. Pro Series pro continues to suggest EIC.
2. The second student income is 5900,age 22, and could possible be considered "can be claimed as a dependent by some one else"
Confused-help.
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If the student is full-time and qualifies for the education credit, they are considered a specified student and do not qualify for EIC. About half way down EIC worksheet there is a box to check designating taxpayer as a specified student which gets rid of EIC.
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Why do you think that #1 does not qualify?
As TaxIowa mentioned, for #2 you need to go the EIC Worksheet and check the student box.
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#1 student: I am stuck on main home or residence--it is the parents home even though he is 24 yrs old during the 2021 year and is a full time student. EIC has a question re main home -even though you qualify without a child. Help
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Thank you. Student # two is good. Thanks for the answer.
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@moonpetty58 wrote:
#1 student: I am stuck on main home or residence--it is the parents home even though he is 24 yrs old during the 2021 year and is a full time student. EIC has a question re main home -even though you qualify without a child. Help
The only thing about a home for EIC is if the person lived in the United States. There are no other rules about a home (at least not for people that don't have kids).