05-02-2020, 12:59 AM
worked since 2006 at the agency administering that code. You can't get "two bites at the apple" If you use non-taxable Pell Grant to pay for tuition, you can't claim a tax credit for the same expense.
From the IRS website: http://www.irs.gov search for the Interactive Tax Law Assistant. You go through a series of questions and it gives you a printable answer.
Look for this caution:
Caution: You cannot claim a credit for expenses paid with tax free educational assistance. Educational assistance (including scholarships, fellowships, Pell Grants, and Veterans’ educational assistance) applied to qualified education expenses (such as tuition and required fees) is tax free and reduces the amount of qualified education expenses in computing the education credit.
From the IRS website: http://www.irs.gov search for the Interactive Tax Law Assistant. You go through a series of questions and it gives you a printable answer.
Look for this caution:
Caution: You cannot claim a credit for expenses paid with tax free educational assistance. Educational assistance (including scholarships, fellowships, Pell Grants, and Veterans’ educational assistance) applied to qualified education expenses (such as tuition and required fees) is tax free and reduces the amount of qualified education expenses in computing the education credit.