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Question

I’m using the GI Bill but when I entered the 1098 that the school sent to me, it said I qualified for this American opportunity tax credit. Is this accurate?

Forum|Forum|5 years ago
February 25, 2021
1 reply
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Employee

No. The box 1 amount on your 1098-T must be reduced by the part of your GI Bill money that is designated for tuition. That is, you may not claim the American opportunity tax credit (AOTC) based on tuition paid by tax free benefits.

In TT, you'll be asked about employer assistance and VA benefits. When you enter those amounts, TT will reduce the qualifying tuition when calculating the benefit.