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One college student is eligible for American Opportunity Credit and one Lifetime Learning Credit how can I separate these on form8863?
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One college student is eligible for American Opportunity Credit and one Lifetime Learning Credit how can I separate these on form8863?
You cannot get both of them for the same student----you get one or the other. The AOC is the one that has a refundable portion. The Lifetime Learning Credit can reduce tax owed.
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One college student is eligible for American Opportunity Credit and one Lifetime Learning Credit how can I separate these on form8863?
Are you saying that you have two students, one who is eligible for the American Opportunity Credit and one who is eligible for the Lifetime Learning Credit? If that's the case, you enter the information for each student separately in TurboTax. After you enter all the information for one student, you will come to the Education Expenses Summary page. On that page, click the button that says "Add a Student" and enter the information for the other student. TurboTax will create a separate Page 2 of Form 8863 for each student.
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