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Education
Type letme (no space between let & me) in the search box. Then press enter. Then click on the link "jump to letme''.
TT will give you the option to select another tuition credit.
The LLC is a straight 20% of tuition paid, all non refundable (it can only lower your tax). Books and a computer are not qualified expenses.
The AOTC is 100% of the first $2000 and 25% of the next $2000. books and a required computer count as qualified expenses. It is 40% refundable.
TurboTax usually chooses the best alternative. For more specific advice, you should explain why you think you should change it.
‎February 28, 2024
4:46 AM