Are you paying tuition? If so, you should have received a 1098-T. To add the 1098-T or tuition and expenses you paid (or took out a student loan for) from a qualified educational institution, you will select the following (even if you did not receive the 1098-T): Federal Deductions and Credits Show More next to Education Start next to Expenses and ScholarshipsDepending on your situation, you may qualify for one of the following Education Credits. Lifetime Learning Credit You can take this for an unlimited number of years Twenty percent of expenses up to $2,000 Non-Refundable meaning this can reduce the amount of taxes you owe, but if your tax liability is less than the LLC, your tax will be reduced to $0 and the rest of the credit is lost. American Opportunity Tax Credit Available for the first 4 years of college Max amount is $2,500 per student Partially refundable credit meaning if your tax liability is $0, 40% (up to $1,000) is refundable

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delainadam4

Question

Hello I'm in school an have kids how to I add I'm in school

Forum|Forum|3 years ago
March 9, 2023
1 reply
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TurboTax Self Employed Online

Vanessa A

Are you paying tuition? If so, you should have received a 1098-T. To add the 1098-T or tuition and expenses you paid (or took out a student loan for) from a qualified educational institution, you will select the following (even if you did not receive the 1098-T):

Federal
Deductions and Credits
Show More next to Education
Start next to Expenses and Scholarships

Depending on your situation, you may qualify for one of the following Education Credits.

Lifetime Learning Credit

You can take this for an unlimited number of years
Twenty percent of expenses up to $2,000
Non-Refundable meaning this can reduce the amount of taxes you owe, but if your tax liability is less than the LLC, your tax will be reduced to $0 and the rest of the credit is lost.

American Opportunity Tax Credit

Available for the first 4 years of college
Max amount is $2,500 per student
Partially refundable credit meaning if your tax liability is $0, 40% (up to $1,000) is refundable

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