I think I might qualify for a tuition tax credit in 2021 but I'm not sure, and I don't know how to approach this correctly in Turbo Tax (Home and Biz on Mac).
My 20-year old, dependent daughter (call her Jane) had university tuition and mandatory fees of $11,346.00.
Jane also had university room and board of $12,357. Jane dropped the meal-plan in the fall and had food expense of $2,800 (this is in addition to the $12,357 mentioned previously).
Jane bought books costing $1,078 that could be purchased anywhere of her choosing.
Jane had scholarships totaling $13,750 from the university that could be applied to any of the fees or expenses charged by the university.
Jane was a full-time student in the spring and fall of 2021.
Jane didn't receive a 1098-T from her university because they don't, by default, provide a 1098-T to students having scholarships that exceed tuition and mandatory fees. Jane's university said they would generate a 1098-T if we direct them to do so. I'm not sure if that's necessary or if the numbers would absolutely match above (they may account for some of the mandatory fees differently than I have.)
Jane has already filed her return and didn't include anything about her education costs or scholarships. Jane's return could be amended but all things being equal we would prefer not to do that.
I've been reading about some options that could provide a tuition tax credit by accepting some of the scholarship as income. Not sure whether that would be income my return or Jane's return (already filed).
Basically, I'm looking for guidance on how to handle the info above in the most beneficial manner and how to do so in Turbo Tax.
Thank you. I really appreciate the assistance.
