Did you pay any qualified expenses like tuition and the fees (after the financial aid) out of the pocket in 2019?
If you did, you may qualify for an education credit or deduction. To claim, you would have to file your Form 1098-T from school and one of the tax forms, Form 8869 or Form 8917. However, if you did not pay anything out of pocket, you do not have to file any tax forms. To file in TurboTax online, here are the steps:
- Sign in to your account, select Pick up where you left off
- At the right upper corner, in the search box, type in "1098t" and Enter
- Select Jump to 1098t
Per IRS, if you pay your tuition and fees with any student loan amount, you are considered as paying out of pocket as you are required to pay it back in the future. Therefore, you may qualify for one of the tax benefits if meet the requirements. Click here for Education credits and Tuition and Fees deduction.
Please also note that if you have paid any student loan interest, you may also eligible for a deduction. For the requirements and how to claim, click below links:
What is student loan interest deduction
Where to claim student loan interest deduction?
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