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Employee
June 3, 2019
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Education Credits Status

  • June 3, 2019
  • 1 reply
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I have used Turbo Tax for many years and it has handled the best way to apply education credits for my two children.  Is there anything in Turbo Tax that will show me what is still available as it relates to education credits.

One child is out of college and the other starts grad school in the fall of 2018.

Thanks

Best answer by KrisD15

The 2017 programs will inform you, after you enter the education information, what credits are available for 2017. To project what credits will be available for 2018, you can use the new free service we offer called TaxCaster. You can use this to make estimates about 2018. For the credits, you will need to know what you have taken in the past and report if the American Opportunity Credit will have been claimed 4 times before the 2018 tax year. If the student that starts Grad school in the Fall has also attended college as an undergrad, that student can be considered an undergrad for all of 2018 and you can claim ALL the student's expenses if they are your dependent. 

CLICK HERE for IRS Pub 970 Education Credits

CLICK HERE for TurboTax TaxCaster


1 reply

KrisD15
KrisD15Answer
June 3, 2019

The 2017 programs will inform you, after you enter the education information, what credits are available for 2017. To project what credits will be available for 2018, you can use the new free service we offer called TaxCaster. You can use this to make estimates about 2018. For the credits, you will need to know what you have taken in the past and report if the American Opportunity Credit will have been claimed 4 times before the 2018 tax year. If the student that starts Grad school in the Fall has also attended college as an undergrad, that student can be considered an undergrad for all of 2018 and you can claim ALL the student's expenses if they are your dependent. 

CLICK HERE for IRS Pub 970 Education Credits

CLICK HERE for TurboTax TaxCaster


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Dom2Author
Employee
June 3, 2019
Great Info, Thank you