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Can you get some education tax credit as a full-time student to offset 1099-NEC large self-employment tax from internship?
I was a full-time student in 2022 and received 1099-NEC for the internship which is required for my degree completion, earning ~20K. I got only $400 deduction from tax from the lifetime learning credit even though the amount I paid in tuition normally should give me a $2K credit. I didn't even know I'm not an employee and had to withhold tax for self-employment tax. Is there anything I can do to apply the education credit to this income since my program required an internship for degree completion?
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‎April 9, 2023
10:18 AM