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I have education expenses for my student loans but I'm disqualified for not entering my schools EIN number which I have. Where can I enter that information?

Where do I enter my schools EIN number?
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1 Reply
Hal_Al
Level 15

I have education expenses for my student loans but I'm disqualified for not entering my schools EIN number which I have. Where can I enter that information?

The schools EIN number is not enough to qualify you for a tuition credit. 

 To be eligible for the tuition credits, the course must be taken at "an eligible institution". The school should be able to tell you if it is an eligible educational institution. In general, an eligible educational institution is an accredited college, university, vocational school, or other postsecondary educational institution, including accredited, public, nonprofit, and proprietary (privately-owned, profit-making) postsecondary institutions. Additionally, in order to be an eligible educational institution, the school must be eligible to participate in a student aid program administered by the Department of Education. If they issue a 1098-T they are probably an eligible institution.

Enter your school at the link below, to see if it's on the dept. of education list.

https://ope.ed.gov/dapip/#/home

 

If your school is on the list,  In TurboTax (TT), enter at:

Federal Taxes Tab (Personal for H&B version)

Deductions & Credits

-Scroll down to:

--Education

  --Education Expenses and Scholarships

 

The EIN number is entered at the 1098-T screen. If you don't have a 1098-T and qualify for an exception, tou will be given a follow up screen to enter it. 

 

One more thing, 

There's a new urban myth among college students that says they can get a $1000 from the government just for filing a tax form. For most of them, they simply aren't eligible. A full time unmarried student, under age 24, even if you don't qualify as a dependent, is only eligible for the refundable portion of the American Opportunity Credit if he supports himself by working. You cannot be supporting yourself on parental support, 529 plans or student loans & grants. You usually must have actually paid tuition, not had it paid by scholarships & grants.  It is usually best if the parent claims that credit. 

You cannot claim a credit if you are, or can be, claimed as a dependent by someone else.

 

Reference: Line 7 instructions for form 8863. https://www.irs.gov/instructions/i8863

 

 

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