For taxes does an education credit help me if I have 0 income
I don’t even understand really what an education credit is. I’m assuming that it is a tax exemption. So, say you owe 10,000 in taxes and you get an education credit for 5,000, you only have to pay 5,000 in taxes.
But what about if I made $0 last year?
If you are under 24, single and have either parent alive, it means you can’t get the refundable part either.
If you are 24 and older (say a returning student) and you paid for your tuition from savings or loans, you can possibly qualify for the AOC credit, which is partially refundable.
If you made zero last year, the only education credit you migh benefit from is the refundable part of the American Opportunity credit, and if you’re under 24 and at least one of your parents is living, or if you’re a dependent, you aren’t eligible
read here.
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