Tax filing guide for college students
Taxes can be tricky for any taxpayer. Filing taxes as a college student can make things all the more intimidating, especially if you’re new to taxes. To be honest, there’s a lot to cover. That’s why we’re here – to make tax filing for students and all the relevant topics – a little easier to absorb.
Free tax filing for students
Tax benefits for students
Student credits and deductions can help make college more affordable.
Get an overview of student tax benefits from our tips for filing as a student.
- American Opportunity Credit – Up to $2,500
- Lifetime Learning Credit – Up to $2,000
- Tuition and Fees Deduction – Up to $4,000
Keep in mind, what counts as an expense for these tax benefits varies, and IRS rules keep you from using more than one at a time. Sound tough? Don’t worry, our program can help you figure out which one benefits you most.
Common tax forms for college students
Forms cover all the nitty gritty details the IRS needs. Luckily, you don’t need to be a forms expert to understand tax filing for students.
That’s where we come in!
- Form 8863 – For the American Opportunity and Lifetime Learning Credits
- Form 1098-T – For the Tuition and Fees Deduction
- Form 1098-E – For the Student Loan Interest Deduction
Scholarships, financial aid and taxes
Most financial aid is taxable and must be reported on your return. What’s more, your taxes can affect the aid you receive.
To get a bird’s eye view, check out our post on student aid taxability.
- Scholarships – Find out what’s taxable for your situation
- FAFSA – See how you can file this form without a return
- Work study – Learn how the IRS treats this income
Have income from a side job? If you’re working as an independent contractor (ex. working for Lyft or DoorDash), then your taxes may be more complex and might not qualify for H&R Block Free Online. But don’t worry, we’re still here for you. Find out what gig workers need to know about taxes.
Curious about how to file taxes as a student? The experts at H&R Block are providing tax tips for students so you’ll know exactly what you’re doing.
Wondering if pell grants, student loans and work study programs are taxable? Join H&R Block as we explain the tax consequences of federal student aid programs.
If you paid tuition to a qualified college or university, you should receive a Form 1098-T. Learn more from the tax experts at H&R Block.