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Education

It is possible you can claim the credit depending on a few other factors.   One of the advantages of the Lifetime Learning Credit is that you can take the credit every year for higher education, as long as you meet all of these qualifying requirements:

  • You, your dependent, or a third party paid qualified education expenses for higher education
  • The qualified education expenses were for an eligible student
  • The eligible student is you, your spouse, or a dependent on your tax return
  • For the full credit, your 2020 MAGI (modified adjusted gross income) is less than $59,000 ($118,000 if you are filing jointly)
    • For a reduced credit, your MAGI is between $59,000 and $69,000 ($118,000 and $138,000 if you're filing jointly)

Related Information:

Qualified expenses are tuition and certain related expenses required for enrollment at an eligible institution. The course must be either part of a post-secondary degree program or taken by the student to acquire or improve job skills.

 

Student activity fees and expenses for course-related books, supplies, and equipment are included in qualified education expenses only if the fees and expenses are paid to the institution as a condition of enrollment or attendance.

 

You can enter tuition that was not reported on a 1098-T in the Education section.   Go through the 1098-T / Education area and you will be able to enter your expenses.   TurboTax will let you know which deduction or credits you qualify for.  

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