I'm eligible for the ACA subsidy, and taking the deduction improves the subsidy amount.
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It usually also reduces your taxable income on your state return. But your should compare the numbers closely. The American Opportunity credit, for most people, is $2500, and is much more valuable than the deduction, even with the change in subsidy.
You can make a copy a of your return and do a trial return the other way (this method is not available to online software users).
That said, type> letme <in the search (find) box. TurboTax (TT) will give you the option to select the Tuition and Fees deduction (2 or 3 screens in)
It usually also reduces your taxable income on your state return. But your should compare the numbers closely. The American Opportunity credit, for most people, is $2500, and is much more valuable than the deduction, even with the change in subsidy.
You can make a copy a of your return and do a trial return the other way (this method is not available to online software users).
That said, type> letme <in the search (find) box. TurboTax (TT) will give you the option to select the Tuition and Fees deduction (2 or 3 screens in)
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