I am a 23 year old graduate student at an eligible institution. TurboTax first tells me I am eligible for the Lifetime Learning Credit. When I click continue it says,
"You can't claim an education tax break. Based on what you've entered so far you are not eligible for an education credit. Here is why you may not qualify: 1. Somebody else can claim you as a dependent on their return 2. There is no taxable income in your return 3. There were no net qualified education expenses."
I know #1 is not the case for multiple years.
#2, I have taxable income in my return from working part-time (~$2,400). Did I make too little? I certainly didn't make the $80-90k range where it phases out or above that.
#3 I assume couldn't be true... over $40k in reported tuition from my 1098 and reported only $5000 in scholarships. So the scholarship doesn't exceed tuition.
I am hoping someone might have a solid answer as to why I cannot claim this credit as it could be very beneficial for me. I have seen other threads about this but none with the same circumstances as me (typically make too much money/filed joint with a spouse). Thank you in advance!
