I qualified for the 2017 education expenses paid for qualifying children but do not for 2018 and have the same MAGI. Turbotax gives no explanation for not qualifying. How do I get an answer?
Yes, the education tax credits changed dramatically under the new tax laws.
If you are claiming for your children, you are most likely claiming the American Opportunity Tax Credit.Who can claim:
The standard for what is half of the normal full-time workload is determined by each eligible educational institution. However, the standard may not be lower than any of those established by the U.S. Department of Education under the Higher Education Act of 1965.
- To claim the full credit, your MAGI,? modified adjusted gross income must be $80,000 or less ($160,000 or less for married filing jointly).
- You receive a reduced amount of the credit if your MAGI is over $80,000 but less than $90,000 (over $160,000 but less than $180,000 for married filing jointly).
- You cannot claim the credit if your MAGI is over $90,000 ($180,000 for joint filers).
For more information, follow this link: AOTC