in Education
I have a first-year college student that lives with me full time. I paid right at 18,000 for tuition, but he also received an 11,500 scholarship, and we did get a 1099-T from the school. Turbo tax says I'm not eligible for an education tax deduction. Is there an income limit? Should be he putting the 1098-T information on his tax return?
thanks!
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You would only get an education credit for the student's expenses if the student is your dependent.
If he is not your dependent, the student, or whoever claims the student, claims the expenses and the credit if applicable.
All expenses paid (by anyone) is counted as paid by the student or the personal that claims the student as their dependent.
Yes, there are income limits for certain credits.
Please click the link below for income level phase-outs.
He is a dependant. Thanks for including the link, we exceed the married filing jointly income :(
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