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January 25, 2024
Question

How do I know if I qualify for the College Tuition Expense Credit?

  • January 25, 2024
  • 1 reply
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I received a student loan to pay for tuition, of which I have to repay

1 reply

DMarkM1
January 25, 2024

You will get a form 1098-T from the school(s) you attended in 2023.  That form will show what you paid for your college tuition and fees.  You will enter that form information in the "Deductions & Credits" section using the "Education" dropdown to find the 1098-T topic.  There you will also be able to enter any other education expenses not included on the form 1098-T like books and supplies, etcetera.  

 

Any qualifying education expenses not paid by non-taxable scholarships and grants were paid by you whether you borrowed the money or not.  TurboTax will let you know if you qualify for any education credits such as the American Opportunity Credit or Lifetime Learning Credit as you complete that education interview section.  

 

Here is a link to the IRS Publication that covers the criteria for each and shows which costs are qualified education expenses.   

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