How do I answer this? Your total qualified education expenses are $25,871. Enter the amount you want to use to calculate your education deduction or credit.

nanine22 · ‎June 4, 2019

Wages & IncomeDeductions & CreditsHealth InsuranceOther Tax SituationsFederal Review

I am a full time college student. Dependent. This is what comes up on my screen right now with question and example below. Still confused on how to answer this.

Amount Used to Calculate Education Deduction or Credit

USAA Federal Savings Bank

Your total qualified education expenses are $25,871. Enter the amount you want to use to calculate your education deduction or credit. For example, since the first $4,000 of qualified expenses may generate an American Opportunity Credit, you may choose to enter $4,000 in this field. The resulting tax credit may be more beneficial than the forfeited exclusion from income. Amount Used to Calculate Education Deduction/Credit is auto filled with a figure of $10,000. I have no idea what to do.