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fink5122
New Member

2nd yr GradStudent. Last year I received the Lifetime Learning Credit. This year it is saying I qualify for that but giving me a Tuition and Fees Deduction instead. Why?

 
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JotikaT2
Employee Tax Expert

2nd yr GradStudent. Last year I received the Lifetime Learning Credit. This year it is saying I qualify for that but giving me a Tuition and Fees Deduction instead. Why?

TurboTax will take your entries from the Education section and calculate the credit or deduction which will be most advantageous to you. 

 

In your case, the Tuition and Fees deduction is giving you a better tax outcome that using the Lifetime Learning Credit would.  

 

I have attached a few links to illustrate what the differences are:

 

Chart comparing credits

 

Tuition & fees deduction

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