I am not receiving the full $2000 for the Lifetime learning credit. Taxable income is $73,324, Tax liability is $11,185, paid $11,041 in tax, only getting a $416 credit.

[DawnC]

The maximum Lifetime Learning Credit you can claim in a year is 20% of the first $10,000 of qualified education expenses you paid for all eligible students (or up to $2,000).   

The credit is reduced (phased out) if your 2024 modified adjusted gross income (MAGI) is between $80,000 and $90,000 ($160,000 to $180,000 if Married Filing Jointly).   The link has more information on MAGI - Your MAGI (modified adjusted gross income) is your AGI plus certain deductions you must “add back.”   These deductions include IRA contributions, student loan interest, one-half of self-employment tax, qualified tuition expenses, and more.

Preview Form 8863 to see how your credited was calculated and/or limited.