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Hi! I am a graduate student, and my program offers tuition remission, which covers tuition, fees, and health insurance premiums. However, on my 1098-T, box 1 is empty, and box 5 only lists the amount for health insurance. On my school's finance page, I can see the tuition and fee charges as well as the tuition remission, listed as "Dept Aid - Tuit&CFees." I want to ask if I can still claim the LLC education credit? Apologies if this is a simple question. I couldn't find much information about it
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The Lifetime Learning Credit is a non-refundable education credit that can be used to reduce your tax owed, but if you owe no tax, the LLC does nothing for you.
I do owe taxes because I also receive a stipend, which is reported on my W-2.
Then enter your information for the LLC. If you have a tax liability the LLC will help.
LIFETIME LEARNING CREDIT
https://ttlc.intuit.com/questions/3262984-who-is-eligible-for-the-lifetime-learning-credit
On my W-2, I have $34484.66 listed under wages and $2154.17 listed under federal taxes withhold. I looked through the requirements for LLC and I meet all of them. My first concern is that that box 1 on the 1098-T is empty, so do I follow the form or what is listed in the finance portal? If the latter, would I still be able to claim LLC since it is tuition remission and not a scholarship?
Since box 1 is empty, you are NOT eligible for the LLC. Since all you tuition was "paid" by tax free remission, you had no qualifying expenses to use to claim the tuition credit.
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