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Level 2
March 2, 2021
Question

Education 1098-T

  • March 2, 2021
  • 2 replies
  • 16 views

Turbotax program said, not qualified for AOC or Lifetime, but still used 8863 Lifetime Credit, why didn't it use 8917?

    2 replies

    Level 15
    March 2, 2021

    Form 8917 Tuition and Fees Deduction will allow you to deduct all or a portion of your education expenses from your taxable income before your tax is calculated.

     

    Form 8863 Education Credits will allow you to deduct all or a portion of your education expenses from your income tax, so it normally gives you a bigger deduction.

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    Hal_Al
    Level 15
    Level 15
    March 2, 2021

    If you're not qualified for the AOC or LLC, you're usually not qualified for the TFD (8917) either. 

     

    For rules, see instructions at

     

    https://www.irs.gov/pub/irs-pdf/f8917.pdf