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Education credit

Forum|Forum|6 years ago
January 28, 2020
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I dropped out of school in March and received a 1098-T, am I eligible to claim any learning credit since I was only a student for 3 months of 2019?

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Best answer by linaj20201

It is not about who can give you the highest refund. This is all about compliance with IRS tax laws. By using TurboTax products, when you follow through its step by step interview questions and answer all the questions correctly, it guarantees you all the tax benefits including credits and deductions you are entitled to by the IRS regulations. In addition, with TurboTax Guarantee, every TurboTax customer/user is guaranteed our program's accuracy. If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest.

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TomK2023

Probably not.

To be eligible for the American Opportunity Tax Credit, the student must:

Be enrolled at least half time for at least one academic period* beginning in the tax year

*Academic Period can be semesters, trimesters, quarters or any other period of study such as a summer school session. The schools determine the academic periods. For schools that use clock or credit hours and do not have academic terms, the payment period may be treated as an academic period.

To be eligible for the Lifetime Learning Credit, the student must:

Be enrolled for at least one academic period* beginning in the tax year.

*Academic Period can be semesters, trimesters, quarters or any other period of study such as a summer school session. Academic periods are determined by the school. For schools that use clock or credit hours and do not have academic terms, the payment period may be treated as an academic period.

You can enter the information from your 1098-T, and the program will determine if you are eligible tor any education credits.

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KvrAuthor

Using the program it gives me the lifetime learning credit however I’ve typed in my information into H&R Block and tax act and they all give me a different refund amount

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linaj20201Answer

It is not about who can give you the highest refund. This is all about compliance with IRS tax laws. By using TurboTax products, when you follow through its step by step interview questions and answer all the questions correctly, it guarantees you all the tax benefits including credits and deductions you are entitled to by the IRS regulations. In addition, with TurboTax Guarantee, every TurboTax customer/user is guaranteed our program's accuracy. If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest.