Make sure you're also aware of the credit limitations! I made a mistake with this last year. You can't claim both the Lifetime Learning Credit AND the American Opportunity Credit for the SAME student in the SAME year. You have to pick one. For most people who qualify for both, the American Opportunity Credit is usually better because the maximum credit is $2,500 compared to $2,000 for the Lifetime Learning Credit. But as others mentioned, AOTC is only for the first 4 years of post-secondary education.

I went through this exact situation two years ago! As an F-1 student who became a resident alien for tax purposes, you're absolutely eligible for education credits. The key thing to understand is that once you pass the substantial presence test (which you clearly have after being here since 2016), your visa status doesn't matter for most tax benefits - you're treated just like a US citizen. Since you're in your 7th year, you'll likely need to go with the Lifetime Learning Credit rather than the American Opportunity Credit. The LLC covers up to $2,000 per year (20% of the first $10,000 in qualified expenses) and there's no limit on how many years you can claim it. One thing I wish I had known earlier - make sure you're only claiming qualified tuition and required fees from your 1098-T. Don't include things like room and board, health fees, or parking fees as those aren't eligible expenses. Also, if you received any scholarships or grants, you'll need to subtract those from your qualified expenses. The income limits are definitely something to watch out for too. As a single filer, the credit starts phasing out at $80,000 MAGI and completely disappears at $90,000. But if you're a typical student, you're probably well below those thresholds. My advice? Go ahead and claim it if you qualify - you've been paying into the system as a resident alien, so you deserve the same benefits!

3 Don't forget about state tax forms too! I made the mistake of only worrying about federal forms and completely missed that I needed a specific form from my previous state after moving mid-year. Each state has different requirements. If you moved between states, make sure you check both states' tax department websites for any forms you might need. Many states also have online systems where you can create an account and see your tax information directly.

11 Something nobody mentioned yet - if you had health insurance through the marketplace (Obamacare), make sure you get your Form 1095-A. Unlike most other forms, you actually NEED this one to file if you received any premium tax credits. They don't just mail it automatically - you need to log into your healthcare.gov account (or state exchange) to download it. I missed this form last year and had to file an extension because you literally cannot calculate your taxes correctly without it if you got subsidies.

Make sure you're entering Form 5498-SA information in the right place in TurboTax! I had this exact issue. When you get to the HSA section, there's a question that asks something like "Did you make contributions to your HSA outside of payroll deductions?" Answer yes to that. Then it should ask for contributions not reported on your W-2. That's where you enter the amount from the 5498-SA that isn't shown on the W-2. TurboTax will calculate the deduction for you on Form 8889.

I went through this exact same confusion last year! The key thing to understand is that HSA contributions can be made in different ways, and each affects your tax forms differently. If your wife's HSA contributions don't show up in box 12 of her W-2, it's likely because either: 1. She made direct contributions to her HSA (not through payroll), or 2. Her employer made the contributions directly as a benefit For TurboTax, you need to navigate to the HSA section under "Deductions & Credits" and look for something like "HSA contributions not on W-2" or "Did you make HSA contributions outside of payroll?" This is where you'll enter the amount from her 5498-SA form. The 5498-SA shows all contributions made to the HSA during the year, but only certain types need to be claimed as deductions. If they were direct contributions (not through payroll), you can deduct them. If they were employer contributions, they're already tax-free and don't need to be deducted. Check her paystubs to see if HSA amounts were deducted from her paycheck. If not, they were likely either direct contributions she made or employer contributions. This will help you determine how to handle them in TurboTax.

Has anyone used the IRS Free File program for filing with self-employment income? I'm in a similar situation to OP and wondering if it handles Schedule C well or if I need to pay for additional software.

I think there's been some great clarification here already! Just to summarize for anyone else reading this thread - "CRP" in taxes typically refers to Conservation Reserve Program payments for agricultural landowners, which definitely doesn't apply to your contracting situation. As a tech contractor making $65k annually with 1099 income, you're absolutely on the right track filing Schedule C for your business income and Schedule SE for self-employment tax. No special agricultural forms needed! Your friend was probably either talking about the Conservation Reserve Program (if they're involved in farming), or possibly meant CRP as in Certified Retirement Planner - someone who helps with retirement tax planning. Either way, there's no missing form you need to worry about for your regular contracting business. Keep doing what you're doing with your 1099s and Schedule C - sounds like you've got it handled correctly!

22 If your income isn't super high, the interest won't make much difference in your taxes. I earned like $300 in interest last year and it only increased my tax bill by about $36 since I'm in the 12% bracket. Just something to keep in mind!

11 Just a heads up - even if you don't get a 1099-INT (like if you earned less than $10 in interest), you're still technically required to report ALL interest income. The IRS doesn't mess around with unreported income, even small amounts.