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wendyz123
New Member

Can I claim LLC education credit as a graduate student?

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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5 Replies

Can I claim LLC education credit as a graduate student?

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.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
wendyz123
New Member

Can I claim LLC education credit as a graduate student?

I do owe taxes because I also receive a stipend, which is reported on my W-2. 

Can I claim LLC education credit as a graduate student?

Then enter your information for the LLC.   If you have a tax liability the LLC will help.

 

 

LIFETIME LEARNING CREDIT

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/expenses-qualify-...

 

 

https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-lifetime...

 

https://ttlc.intuit.com/questions/3262984-who-is-eligible-for-the-lifetime-learning-credit

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
wendyz123
New Member

Can I claim LLC education credit as a graduate student?

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?

Hal_Al
Level 15

Can I claim LLC education credit as a graduate student?

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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