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Why am I getting credit for the American Opportunity Credit _and_ the Lifetime Learning Credit?
One college student, a freshman. I thought we could only get one of these credits -- not both.
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February 14, 2021
11:13 AM
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Education
Correct, you can have one education credit or the other, but not both.
Go back to the Deductions & Credits section to revisit Expenses and Scholarships (Form 1098-T). The details for the student should only be entered once. Be sure to run through the section and select Wrap up tax breaks.
For more details, see:
February 14, 2021
11:28 AM
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Education
Thanks! I think my confusion was that one screen in TurboTax says that we are _eligible_ for the AOC and the LLC. But on a later page it says we are getting a $2,000 credit for the AOC because that is the "best" option. I thought TT was crediting me for both of them.
February 14, 2021
12:35 PM