1098-T

[terrymorganjr]

How do I manually change my education expense from the American Opportunity Credit to the tuition deduction? I only have 450.00 on my 1098-T and I want to save the Opportunity Credit for when I have higher expenses.

[MarilynG1]

You don't have to enter your 1098-T in your return. 

At the Education Expenses Summary screen, you can Delete your School (screenshot). 

Enter just your Education Expenses that you paid 'out of pocket' (or with loans) under Book and Fees and TurboTax will calculate the credit you qualify for (this may be the Lifetime Learning Credit).

A tax credit is usually better than a deduction in your return.

Click this link for detailed info about Education Tax Credits.

[terrymorganjr]

Do third party expenses count as educational expenses?  I paid a third party for some dual enrollment classes for my son.  I paid a total of 900 but the 1098-T only reflects the university receiving 450.  I am assuming the third party kept the difference.

[MarilynG1]

Yes, you can claim 'out of pocket' Educational Expenses that are not included on the 1098-T.

In the Education section, you can enter an amount for Book and Other Fees.  

Save your receipts for those items.

Click this link for more info on Qualified Education Expenses.