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AGI of $141,600. Over $16,000 in college tuition. What didn't we get a "credit"?

 
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JulieCo
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AGI of $141,600. Over $16,000 in college tuition. What didn't we get a "credit"?

For tax year 2018, the Tuition & Fees Deduction is currently unavailable, therefore the only two education credits available for this year are the American Opportunity Tax Credit and the Lifetime Learning Credit.

  • The American Opportunity Credit is only available if you did not complete the first four years of post-secondary education before the beginning of the year and your modified adjusted gross income is $90,000 ($180,000 if married filing jointly) or less (The credit is reduced between $80,000 and $90,000 ($160,000 and $180,000).
  • For the Lifetime Learning Credit, one’s modified adjusted gross income must be less than $67,000 ($134,000 if you are married filing jointly) to be eligible for the credit.

See more information below:




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