College in highschool

[sanngregory1]

My son,  a dependent, is a full time high school student that took college in high school courses.  One college provided a 1098T with the payment we made in box 1.  The other colleger provided a 1098T showing the full tuition for the course in box 1 and a scholarship or grant in box 5 reducing it to the actual amount paid for the credits.  Assuming I can file for Lifetime Education Credit, I am uncertain how to get Turbo Tax to do this correctly.  Especially since the on 1098T is showing a scholarship as I am not sure they completed this correctly.  This is the first time I have seen it done this way.

[ColeenD3]

If you have any questions about why there is a scholarship entered on the 1098-T, you will need to contact the issuer. If you paid out of pocket more than is listed on the forms, you can include those amounts.

Otherwise, just enter the 1098-T forms exactly as they appear. 

The amount of the credit is 20 percent of the first $10,000 of qualified education expenses or a maximum of $2,000 per return. The LLC is not refundable. So, you can use the credit to pay any tax you owe but you won’t receive any of the credit back as a refund.

[sanngregory1]

Thank you for your response!  I guess my question lies more with the fact of can I use the LLC for a full-time high school student that has taken 9 college credits during the 2019-2020 school year?  Thx again 🙂

[CatinaT1]

Yes, you can use the Lifetime Learning Credit for a FT High School Student.

[anonymouse1]

Is this true for 2021?  Our high school junior took one college class in 2020, and we claimed the tuition deduction.  That is not available for 2021.  She took another college class (taught at the high school but paid to the college, and a course that would apply toward her degree if she went to that college) in the fall of her senior year (2021).  She has not even applied to that college, though she has applied to other schools with an intent to pursue a degree in that same field - but we are not sure if she will get transfer credit for the course, if the school she decides on doesn't have the exact same course as part of their degree requirements.  So I'm not sure that the LLC applies?

[MinhT1]

The tuition deduction has not been extended for tax year 2021.

If you paid tuition for your daughter to the college and the college is an eligible educational institution, you would be eligible to claim the Lifetime Learning credit.

Please read this IRS document for more information.

[anonymouse1]

I know they did away with the tuition deduction this year, that's why I was asking about the LLC.  But the LLC says it has to be towards a post-secondary degree OR for job training.  Would a college course taught at the high school be considered as being applied toward a degree program since 1.  The student is not currently enrolled in a degree program and 2.  The course may not be applied toward her degree when she starts it in fall 2022 (even though it would be if she went to the school we paid tuition to).  It's only $150, I'd rather not claim the LLC if there is any doubt about this.

[Vanessa A]

No, since she is not enrolled in a degree program or other recognized credential, you cannot take the Lifetime Learning Credit. 

[Vanessa A]

No, since she is not enrolled in a degree program or other recognized credential, you cannot take the lifetime learning credit. 

[anonymouse1]

Thank you.  20% of $150 ($30) credit wasn't worth messing this up!