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If I didn't receive financial aid last year and paid out of pocket can I still claim it on my taxes to get that return money back?

 
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1 Reply
ThomasM
New Member

If I didn't receive financial aid last year and paid out of pocket can I still claim it on my taxes to get that return money back?

If you paid out of pocket for qualified education expenses, then there are education benefits that you may qualify to claim on your tax return.  You'll find the entry screens for education expenses by clicking on Federal Taxes, then Deductions & Credits, then I'll Choose What I Work On, then scroll down to Education, click on Expenses and Scholarships (Form 1098-T), and follow the prompts.  Depending on your school, they may have sent you a Form 1098-T, which notes the amount of expenses paid/billed.  You'll want to have this handy when you begin this section in TurboTax.  [If you weren't issued a 1098-T, TurboTax will cover that scenario in the input screens]

Here is a link to IRS Publication 970, Tax Benefits for Education, which discusses the various benefits and their criteria:

https://www.irs.gov/pub/irs-pdf/p970.pdf

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