Software: TurboTax Deluxe for Mac
Hi,
I received a 1098-T with an amount in box 5 greater than the amount in box 1. This was because I received a full ride scholarship that covered all qualified tuition expenses and an additional scholarship of ~$600 from another organization. The additional $600 was refunded to me by the school for me to use as I wished. To obtain an educational credit or deduction, I would need to use it for qualified educational expenses:
- I cannot claim the AOTC against the $600 of scholarship income since the AOTC has already been claimed 4 times for me.
- I also cannot claim the LLC against the $600 since tuition and fees are covered by the full-ride scholarship and I don't have any other expenses that must be purchased from the school (see IRS Pub 970, Sec 3)
- I CAN deduct qualified educational expenses (as defined in IRS Pub 970, Sec 1) to make all or part of the $600 tax free. For example, I purchased course supplies that were required for all students in that class.
My problem is that TurboTax Deluxe isn't allowing me to use option 3 above. Seemingly, there is no place to include qualified educational expenses (IRS Pub 970, Sec 1) when they are 1) not AOTC eligible, 2) not LLC eligible and 3) not included on a 1098-T. Such expenses would include tax free purchases that are required for coursework but aren't purchased from the school.
Again, putting these expenses in the "Other Educational Expenses (for all schools)" --> "Books and materials not required to be purchased from the school" box doesn't help since this box is for the AOTC.
Suggestions are much appreciated.
