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jamiller312
New Member

Why didnt i get the tuition and fees deduction?

I did get a lifetime learning credit but not tuition and fees deduction. Why is this?
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Accepted Solutions
IsabellaG
Employee Tax Expert

Why didnt i get the tuition and fees deduction?

You can only get one tax break each year for your educational expenses. If you are eligible for more than one tax break,  TurboTax calculates the credit or deduction that results in the lowest tax for you. In general, credits are usually better than deductions, because they represent a dollar-for-dollar savings, whereas a deduction is used to reduce your taxable income, and may not result in as low an income tax as a credit.

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1 Reply
IsabellaG
Employee Tax Expert

Why didnt i get the tuition and fees deduction?

You can only get one tax break each year for your educational expenses. If you are eligible for more than one tax break,  TurboTax calculates the credit or deduction that results in the lowest tax for you. In general, credits are usually better than deductions, because they represent a dollar-for-dollar savings, whereas a deduction is used to reduce your taxable income, and may not result in as low an income tax as a credit.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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