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I received a scholarship & grant. I also applied for a loan (some $$ was left over) turbotax is telling me i do not qualify for an education credit. is that correct?

 
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KrisD
Intuit Alumni

I received a scholarship & grant. I also applied for a loan (some $$ was left over) turbotax is telling me i do not qualify for an education credit. is that correct?

Credits are based the amount of expenses that are more than tax-free assistance used in the tax year. 

The independent student or the person claiming the dependent student applies for the credit. 

CLICK HERE for IRS Pub 970 Tax Benefits for Education


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