I qualified for American Opportunity Credit/Lifelong Learning and I'm only getting $58 as opposed to last year where I received $1400

[arizia5825]

Hi, I am a bit confused as to why this year I am only receiving $58 in American Opportunity/Lifelong Learning Credit when my tuition has risen slightly since last year and the amount of scholarships I have received is around the same. My tuition is around $7000 and the scholarships I received is about $708. This is very similar to last year. Most of my information is the same as last year except I switched addresses and work reduced hours at my job (therefore my income is lower than last year). Last year I received about $1400 in education credit and I have only received it for 2 years. 

[Hal_Al]

It sounds like you only had $58 of tax to offset.  Look at the forms.  The credit calculation is done on Form 8863. if you qualify for both the American Opportunity Credit (AOC) and Lifetime Learning Credit (LLC), you should be getting the AOC. The AOC comes in two pieces.  There should be $1000 on line 29 of form 1040 (in addition to the $58 0n line 20).

[arizia5825]

Hi thanks for your reply. Are these found in the 2021 (last year's) tax return? I see that in line 20 of 1040 it says $1088. This is the tax offset? Also, I believe I only received the LLC last year since I do not see anything in line 29 of 1040.

[Hal_Al]

Q. Are these found in the 2021 (last year's) tax return? 

A. Yes

Q. I see that in line 20 of 1040 it says $1088. This is the tax offset?

A. Yes

Q. Also, I believe I only received the LLC last year since I do not see anything in line 29 of 1040.

A. Yes, most likely. Verify by reviewing form 8863.

Turbotax usually only selects the LLC if you don't qualify for the AOC.