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Deductions & credits
Thank you for your detailed explanation.
In our case Grants exceeds tuition and even after deduction required education expenses, there is still remaining balance and it is considered taxable income and must be reported.
So, the American Opportunity Credit (AOTC) does not apply, but we would like to know how we can add this amount as income in Turbotax...
March 26, 2025
11:24 PM