Skip American Opportunity Credit?

Forum|Forum|5 years ago
February 6, 2021
1 reply
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We took the American Opportunity Credit for my son for 2018 & 19. Only attended part time in 2020, looking at two more years to finish. The credit is significantly less than the last two years. I believe we can skip it for this year. However, when I enter the info in Turbo Tax it tells me the AOC credit is the best one for me. I do not see a way to choose not to take it for this year. Is there any way to do that, short of just removing all the information for that section? Thanks.

TurboTax PLUS Online

Best answer by Hal_Al

Type letme (no space between let & me) in the search box. When the dropdown list appears, click on letme rather than "jump to letme'. On the next drop down, click on the "jump to letme” link.

TT will give you the option to select another tuition credit or deduction. The Lifetime Learning credit is usually the next choice. You can change it back and try the other, to compare the results.

Hal_AlAnswer

Employee

Type letme (no space between let & me) in the search box. When the dropdown list appears, click on letme rather than "jump to letme'. On the next drop down, click on the "jump to letme” link.

TT will give you the option to select another tuition credit or deduction. The Lifetime Learning credit is usually the next choice. You can change it back and try the other, to compare the results.

Wanderer

How is this done in the desktop version of TurboTax?

kneessijAuthor

I use TurboTax online so I can't say if it is any different in the desktop version.

For me I just basically did what the previous post said. I was in the "Expenses and Scholarships" section, on the screen that says

"Next, We'll See Which Deduction or Credit Will Save You the Most"

I typed “letme” in the search box. I did click on the “Jump to letme” link

It came up to a screen that looked like this:

Education Credits and Deduction

Do you want to change the education calculations?

Clicked continue

The next screen had a message:

"Income and deductions you enter can impact your education deduction and credits.

On the next screen, choose between the American opportunity credit, lifetime learning credit and the tuition and feees deduction for each student. Then we'll show you the result of your selections".

Clicked continue

ON the next screen it showed the three credits/deductions. For Lifetime Learning Credit and Tuition and Fees Deduction it had “n/a”. For the AOC it had a checkbox that I was able to unselect.

Then I hit continue and it did seem to save that setting.