You may be able to obtain a college tax credit, depending on
your filing status and your Adjusted Gross Income. If you are filing a Married Filing Joint
return, the American Opportunity Credit (AOC) phases out at an Adjusted Gross
Income of $180,000. The Lifetime
Learning Credit (LLC), for the same filing status, phases out at $130,000 of
Adjusted Gross Income. TurboTax will
give you the best education tax benefit between the three available options: American Opportunity Credit; Lifetime
Learning Credit or the Tuition and Fees deduction. The following TurboTax link provides additional
details for the two
Education Credits. The following
TurboTax FAQ provides additional guidance on the Tuition and Fees Deduction:
https://ttlc.intuit.com/replies/3302271