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  • Writer's pictureDaniel Gray CPA

USC/Cdn resident Cdn University Students USD$4,000 refund

A US citizen attending a qualified Canadian university, if eligible for American Opportunity Tax Credit (AOTC), could on a 1040 claim it as a USD $1,000 refund (and up to four eligible years).

A taxpayer is not eligible for the AOTC unless the tax return claiming the credit includes the EIN issued by the U.S. Internal Revenue Service (IRS) for the student’s educational institution [26 U.S.C. § 25A(g)(1)(B)(iii)]. A Canadian university may obtain an EIN and most if not all indeed possess one.

As far as the [26 U.S.C. § 25A(g)(8)] 1098-T requirement, 2021 Publication 970 Tax Benefits for Education states that one may claim the credit if the student doesn't receive a Form 1098-T because the student's educational institution isn't required to furnish a Form 1098-T to the student so long as one otherwise qualifies, can demonstrate that one (or a dependent) were enrolled at an eligible educational institution, and can substantiate the payment of qualified tuition and related expenses.

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