Hello,
Most so-called 'experts' say AOTC is zero if Box 1 payments fall below Box 5 total sum for grants or scholarships. One said your max election from Box 5 to pay tax on is limited to any sum in excess of Box 1. But I know better by claiming almost $7,5000 listed in Box 5 last year, per an Intuit Accountant's advice that up to $10,000 is claimable from Box 5. Yet, none of the other self-styled tax experts seem competent enough or feel comfortable with this. So, can someone suggest a way to explain it so they understand this same process, no matter what software is utilized to prepare tax refunds? I've embedded an image of my exact 2019 Form 1098T that is redacted for privacy and easy reference. Thanks in advance!
