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Education
Q. It appears like this additional income should qualify for claiming the LLC. Am I correct in this thinking?
A. Yes, Because that $14K was taxed as income (included in box 1 of your W-2), you are considered to be the one who paid that much tuition.
You situation qualifies as an exception to not receiving a 1098-T. In TurboTax, answer no to did you receive a 1098-T. Then check the box saying you qualify for an exception. You will be given a change to enter tuition paid. Just enter the $14K paid (you only need 10K to get the maximum LLC, $2000), with after tax money, and skip the requests for other amounts.
‎February 21, 2022
12:21 PM