topic Re: Education in Education

Education

Taxjunkie — Mon, 14 Apr 2025 15:46:36 GMT

My son went to university for 5 years to finish his degree. I have been paying his college expenses from day one. I have used Turbotax to do my taxes for the entire time. TT says that I do not have any eligible expenses and will not let me enter the info from my 1098-T. Can you help me?

Re: Education

xmasbaby0 — Mon, 14 Apr 2025 15:52:45 GMT

https://www.irs.gov/help/ita/am-i-eligible-to-claim-an-education-credit

Re: Education

AmyC — Mon, 14 Apr 2025 15:59:40 GMT

Yes, but this could take some digging. First, verify that you are claiming your son as a dependent. Select him as the student and verify at least half time, 5 months, etc. Go back through what you are so familiar with - sometimes we mark a box wrong by accident.

Once you enter the school, you should be able to enter the 1098-T. Do you have scholarships in box 5 that are taking the tuition in box 1? We can work around that. The IRS has a great brochure that explains how scholarships and tax credits interact.

The AOTC is only good for 4 years. Since you are on year 5, LLC is your only option. See What You Need to Know about AOTC and LLC.

You may need to reply with where you are in the program, what screen, more about you 1098-T and verify you qualify for the credit.

Re: Education

Hal_Al — Mon, 14 Apr 2025 16:25:33 GMT

There is a 4 time limit for the most generous (and partially refundable) credit, the American opportunity Credit (AOC). For the fifth year, you can still claim the Lifetime Learning Credit (LLC). It is not refundable. That is, it can only be used to offset an actual tax liability.

You enter in the same place, as before. The student must be your dependent, for you to claim the credit. If he is not your dependent, he can claim the credit, even though you paid the expenses.

In TurboTax (TT), enter at:

Federal Taxes Tab (Personal for H&B version)

Deductions & Credits

-Scroll down to:

--Education

--Education Expenses and Scholarships (1098-T)