topic What is needed to file higher education expneses and credits? in Education

What is needed to file higher education expneses and credits?

ttarver-clevelan — Thu, 04 Mar 2021 20:48:37 GMT

i am being asked to upgrade to Deluxe because i can file with higher education expenses and credit, What is required from a paperwork side on my part to do this?

Re: What is needed to file higher education expneses and credits?

MinhT1 — Thu, 04 Mar 2021 20:59:11 GMT

To claim education expenses and credits, you need form 1098-T sent by the college to the student.

Please read this IRS document for more information.

Re: What is needed to file higher education expneses and credits?

Hal_Al — Thu, 04 Mar 2021 20:59:23 GMT

TurboTax also has another free product called the Free File Edition (not to be confused with the regular Free Edition). It has free Federal preparation and free State preparation. There is no efiling fee. It is not available after October 15

The Free file Edition can handle a 1099-MISC.

The Free file Edition is more fully-featured than the regular Free Edition. The Free File Edition can prepare Schedule A, C, D, E, and F that the Free Edition cannot.

To qualify for free 2020 federal and state tax returns through the IRS Free File Program delivered by TurboTax, you just need to meet one of these requirements:

Your 2020 household AGI is $39,000 or less;
You qualify for the Earned Income Tax Credit (EITC); or
In 2020, you served as active duty military (including Reservists and National Guard) with a maximum AGI of $72,000, and you have a military-issued W-2.

The FREE FILE Edition is located at:
https://turbotax.intuit.com/taxfreedom

How to switch and start over in Free file Edition
https://ttlc.intuit.com/questions/2026912-how-do-i-switch-to-turbotax-freedom-edition

Re: What is needed to file higher education expneses and credits?

Hal_Al — Thu, 04 Mar 2021 21:01:18 GMT

There is no paper work required, other than form 1098-T, from your school. And there are exceptions to that form.

In TurboTax (TT), enter at:

Federal Taxes Tab (Personal for H&B version)

Deductions & Credits

-Scroll down to:

--Education

--Education Expenses