topic Education Credits in Get your taxes done using TurboTax

Education Credits

Anna113 — Wed, 02 Apr 2025 18:25:35 GMT

How to collect maximum education credits when I am claiming my college student child as a dependent on my tax return? When she submits her tax return, should she receive any education credit? Last year she did not have a job and earned a little bit of interest from Treasury Bills. Vocational Rehab pays for her tuition and books and we paid for her dorms out of pocket. What items do we need to pay attention to on our tax returns as far as education credits go?

Re: Education Credits

RobertB4444 — Wed, 02 Apr 2025 18:28:22 GMT

When you are claiming your college student the American Opportunity Credit is the best one. You will need the 1098-T from her university or college - she can download it from her student portal if you haven't already received it. You will enter that form into TurboTax and answer the follow up questions and be all set.

@Anna113

Re: Education Credits

Bsch4477 — Wed, 02 Apr 2025 18:32:57 GMT

If the VR money is earmarked for tuition and books and was used for that purpose then you have no out of pocket qualified education expenses to claim for credit.

Re: Education Credits

Anna113 — Wed, 02 Apr 2025 18:40:09 GMT

What about Room and Board? It does not count as qualified expenses?

Re: Education Credits

KrisD15 — Wed, 02 Apr 2025 18:41:48 GMT

No, room and board expense can be used to offset a saving account distribution reported on Form 1099-Q, but cannot be used towards an education credit.