What is in Box 5 of your 1098-T? In order to qualify for an education tax benefit, you must have paid some education expenses from your own funds or from a student loan. If TurboTax is indicating that you have no net qualified education expenses, that means that the amount of your scholarships exceeds the amount paid for tuition and other qualified education expenses.
Did you enter your 1098-T in the education section? The qualified expenses comes from Box 1 of the form.
You can't be a dependent on someone else's return and take an education credit. Who is eligible?
The maximum Lifetime Learning Credit you can claim in a year is 20% of the first $10,000 of qualified education expenses you paid for all eligible students (or up to $2,000). The credit is reduced (phased out) if your 2024 modified adjusted gross income (MAGI) is between $80,000 and $90,000 ($160,000 to $180,000 if Married Filing Jointly). Since this isn't a refundable credit, the credit can't be more than your tax liability.
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