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April 2, 2025
Question

Education Credits

  • April 2, 2025
  • 2 replies
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How to collect maximum education credits when I am claiming my college student child as a dependent on my tax return? When she submits her tax return, should she receive any education credit? Last year she did not have a job and earned a little bit of interest from Treasury Bills. Vocational Rehab pays for her tuition and books and we paid for her dorms out of pocket.  What items do we need to pay attention to on our tax returns as far as education credits go?  

    2 replies

    April 2, 2025

    When you are claiming your college student the American Opportunity Credit is the best one.  You will need the 1098-T from her university or college - she can download it from her student portal if you haven't already received it.  You will enter that form into TurboTax and answer the follow up questions and be all set.

     

    @Anna113 

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    Employee
    April 2, 2025

    If the VR money is earmarked for tuition and books and was used for that purpose then you have no out of pocket qualified education expenses to claim for credit. 

    Anna113Author
    April 2, 2025

    What about Room and Board? It does not count as qualified expenses?