Hi, I have total tuition expense of $19,000 however my lifetime earnings credit is getting capped at $986, why am I not receiving the full $2000

viruswoli · ‎February 9, 2020

DavidS127 · ‎February 9, 2020

What are the income limits for LLC?

For TY2019, the amount of your LLC is gradually reduced (phased out) if your MAGI is between $58,000 and $68,000 ($116,000 and $136,000 if you file a joint return).
You can’t claim the credit if your MAGI is $68,000 or more ($136,000 or more if you file a joint return).

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DavidS127 · ‎February 9, 2020

What are the income limits for LLC?

For TY2019, the amount of your LLC is gradually reduced (phased out) if your MAGI is between $58,000 and $68,000 ($116,000 and $136,000 if you file a joint return).
You can’t claim the credit if your MAGI is $68,000 or more ($136,000 or more if you file a joint return).

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

viruswoli · ‎February 9, 2020

Thank You

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