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peteydog
New Member

How do I get turbo tax to compute nonrefundable education credit form 8863? Turbo tax income limit is 165K and IRS income limit is 180K for this credit, Why??

I have maxed out the # of the Hope credit and the American opportunity credit but I should be able to take nonrefundable educational credit but turbo tax will not compute??

1 Best answer

Accepted Solutions
KrisD
Intuit Alumni

How do I get turbo tax to compute nonrefundable education credit form 8863? Turbo tax income limit is 165K and IRS income limit is 180K for this credit, Why??

I'm sorry, but it can't.

The Married Filing Jointly income phase-out for the American Opportunity Tax Credit is between 160,000 - 180,000.

You said that you maxed that credit out (took it 4 times already) so you are not eligible for that credit this year.

There remains the "Lifetime Learning Credit" as well as the "Tuition and Fees Deduction", which are non-refundable and have no limit on the times they can be claimed, however, those phase-out income levels are even lower.

The Married Filing Jointly income phase-out for the Lifetime Learning Credit is between 111,000 - 131,000.

The Married Filing Jointly income phase-out for the Tuition and Fees deduction is between 130,000 - 160,000.

Neither credit nor the deduction can be claimed if filing "Married Filing Separately".

For more detailed information, please click the link below.

CLICK HERE for IRS Pub 970 Tax Benefits for Education





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1 Reply
KrisD
Intuit Alumni

How do I get turbo tax to compute nonrefundable education credit form 8863? Turbo tax income limit is 165K and IRS income limit is 180K for this credit, Why??

I'm sorry, but it can't.

The Married Filing Jointly income phase-out for the American Opportunity Tax Credit is between 160,000 - 180,000.

You said that you maxed that credit out (took it 4 times already) so you are not eligible for that credit this year.

There remains the "Lifetime Learning Credit" as well as the "Tuition and Fees Deduction", which are non-refundable and have no limit on the times they can be claimed, however, those phase-out income levels are even lower.

The Married Filing Jointly income phase-out for the Lifetime Learning Credit is between 111,000 - 131,000.

The Married Filing Jointly income phase-out for the Tuition and Fees deduction is between 130,000 - 160,000.

Neither credit nor the deduction can be claimed if filing "Married Filing Separately".

For more detailed information, please click the link below.

CLICK HERE for IRS Pub 970 Tax Benefits for Education





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