I have a similar problem/question on how the field "Amount used to Calculate Education Credit:" is determined and what its impact is in my daughters 2022 taxes. I 'm hoping @JulieH1 or @nbcobb can help.
The TurboTax page titled "Education expense used for a tax credit" shows that my daughter's "total qualified education expenses are $31,281". This amount is the sum of the tuition paid in Box 1 of her 1098-T, $13,990 and additional eligible expenses of $17,291 (Room and board, eligible education expenses, paid from a 529 college savings withdrawal).
This TurboTax page, gives an example" if the person who claimed you as a dependent also claimed the American Opportunity Credit for these expenses (which applies to the first $4,000 of education expenses), you would enter $4,000 below.
On the line below it has "Amount Used to Calculate Education Credit" and a box that is pre populated with $9,990.
I believe the $9,990 was calculated from the 1098-T tuition payment of $13,990 less the $4,000 in scholarship the college gave her.
With the $9,990 value in the box, my daughters Federal Refund is $64.
If I follow the example give, while I claimed my daughter as a dependent, I did not input any education information or expenses for her on the family taxes, so the value I should input to the box would be $0. Doing that increases her Federal refund to $108.
Which value is correct?
Thanks for any help or advice provided.
