Skip American Opportunity Credit

Forum|Forum|5 years ago
March 28, 2021
2 replies
0 views

My daughter took the ACT at a college resulting in a 1098-T for $40. TurboTax desktop version automatically applies the American Opportunity credit. I don't want to loose a year of the credit with only a $40 expense. How do I elect not to apply the credit? Most solutions I have seen relate to the online version of TurboTax.

Best answer by Wanderer

I figured it out. For any others who are interested in this:

- From Form view, navigate to the Tuition Summary form.

- Click on the Quick Zoom button for the Student Information Worksheet for Dependents.

- From the Open Student Info Worksheet, select the applicable student's form. Note: If you have more than one dependent with a Student Info Worksheet, there is no indication whose form you are opening until you actually open it.

- Click on the Finish button. The Student Info Wk displays in a new tab.

- In Part VII, select the credit you want applied.

- Click the Quiz Zoom button to return to the Tuition Summary.

Note: If you have multiple students, repeat the steps above for each student, prior to completing the next step.

- On the Education Tuition and Fees Summary form, in Part II, select the checkbox for Step 3.

Hal_Al

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.

WandererAuthor

From the Step by Step view, using the Search in the upper right corner, typing letme lists related questions and answers that take me back to this forum vs links to the appropriate question. Any tips on accessing a different search function that will take me to where you are referencing?

WandererAuthorAnswer

I figured it out. For any others who are interested in this:

- From Form view, navigate to the Tuition Summary form.

- Click on the Quick Zoom button for the Student Information Worksheet for Dependents.

- Click on the Finish button. The Student Info Wk displays in a new tab.

- In Part VII, select the credit you want applied.

- Click the Quiz Zoom button to return to the Tuition Summary.

Note: If you have multiple students, repeat the steps above for each student, prior to completing the next step.

- On the Education Tuition and Fees Summary form, in Part II, select the checkbox for Step 3.

Carl11_2

Employee

How do I elect not to apply the credit? Most solutions I have seen relate to the online version of TurboTax.

In the search box (click the search in the upper right) enter the word LETME and press the enter key on your keyboard. Give it a moment, then click the "jump to" link when it appears. Work through that section and make your selection as desired. I would suggest the LIfetime Learning Credit (only if offered) since there's no limit on the number of times you can take that particular credit.