I want to select a different option for my education credit; the system forces the Lifetime Education credit. I want to use my tuition to lower my overall income. I am using the TurboTax Deluxe Mac Version and when I search letme in the help it does not work and only articles or help questions show up.
Turbotax says I am available for both the Lifetime and American Opportunity Credit.
As of 2021 tax returns, the Tuition and Fees Deduction is no longer available. It was repealed by the Taxpayer Certainty and Disaster Tax Relief Act of 2020. This is the only education tax benefit that would lower your overall income instead of providing you with a tax credit.
If the Education Optimizer is choosing the Lifetime Learning Credit for you, then that is your best option.
[edited 3/6/2022 | 5:58 pm PST]
Turbotax says I am eligible for the American Opportunity credit and the Lifetime learning credit,
Both the American and Lifetime show the same amount of credit except since I do not owe any tax the American I would get a refund but It won't let me select the American Opportunity credit.
Type letme into the search and you should get a "Jump to letme" link.
Here you can change your selection.
You can't get the refundable portion if someone else can claim you as their dependent.
I made sure to select that I cannot be claimed as a dependent so would that allow me to get the refundable portion?
How did you answer the "Did you support yourself in 2021?" question? If you do not support yourself with earned income, you won't be eligible for the refundable portion of the American Opportunity Credit. This was in the personal information section, see this FAQ for more details.
A full-time unmarried student, under age 24, whether a dependent or not, is only eligible for the refundable portion of the American Opportunity Credit if he/she supports themselves by working.