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corgi
Returning Member

Graduate School tuition

I'm working on my MBA and for 2020, had a large tuition expense (in addition to receiving scholarships).   Is this deductible using the Lifetime Learning Credit?  Do I request the form 1098-T from the school?  I haven't figured out my AGI, but my wages were $89k for the partial year.

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1 Reply
MinhT1
Expert Alumni

Graduate School tuition

You should have received a form 1098-T. If you have not received it, you can contact your college or log into your student account at the college and print it out.

 

If your college is a qualified institution, your tuition is eligible for the Lifetime Learning credit.

 

The Lifetime Learning credit can be limited by income.

 

What are the income limits for Lifetime Learning Credit?

  • For TY2020, the amount of your LLC is gradually reduced (phased out) if your MAGI is between $59,000 and $69,000 ($118,000 and $138,000 if you file a joint return).
  • You can’t claim the credit if your MAGI is $69,000 or more ($138,000 or more if you file a joint return).
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