Is my son eligible to receive the American Opportunity Credit if I earn in excess of $90K/year?

[robertmoon73]

My son is in the process of getting his bachelors degree. He's a full time student at the UMN. I'm married, filing jointly. I make in excess of $90k/year. Turbotax program claims my son is eligible to receive the American Opportunity Credit but I don't understand how that is possible given my income level. Please explain.

[Vanessa · Accepted solution]

If you are Married Filing Jointly, then the income limit is $180,000.  So yes, based on the information you are providing you are eligible for the American Opportunity Credit. 

What are the income limits for AOTC?

• To claim the full credit, your MAGI,? modified adjusted gross income must be $80,000 or less ($160,000 or less for married filing jointly).
• You receive a reduced amount of the credit if your MAGI is over $80,000 but less than $90,000 (over $160,000 but less than $180,000 for married filing jointly).
• You cannot claim the credit if your MAGI is over $90,000 ($180,000 for joint filers). https://www.irs.gov/credits-deductions/individuals/aotc