Full refund on 2007 federal taxes, should I amend to claim the Hope Credit?

Question

I was just getting ready to amend my 2007 taxes to include the Hope Credit and I was wondering if it was even necessary. I received a full refund on my taxes (no tax liability). I was just wondering if I amend my taxes to claim the Hope Credit will I also get a refund for it? I just finished my new 1040 and was getting ready to do the 1040X and I realized there is no increase on the amount due to be refunded to me, just to the credits. Uh, this is driving me nuts!

Answer 1

You would not need to amend.  The credit would have only taken away from tax liability and as you said, you had none.  

Answer 2

The Hope Credit is not refundable so if you have $0 tax liability without it, there's no use in filing an amended return to claim it. If you can't benefit from it, it's lost.

Answer 3

The Hope Credit can only decrease your tax liability, so if yours was already zero there's nothing to be gained by amending your return.