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My AGI is 162,000 and I am claiming my son as dependent but it’s saying I am not eligible for American opportunity credit. Can’t I get partial credit?

 
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4 Replies

My AGI is 162,000 and I am claiming my son as dependent but it’s saying I am not eligible for American opportunity credit. Can’t I get partial credit?

https://www.irs.gov/credits-deductions/individuals/education-credits-questions-and-answers

 

Q12. Is there an income limit for AOTC?

A12. Yes. To claim the full credit, your MAGI, modified adjusted gross income (See Q&A 13 for MAGI definition) must be $80,000 or less ($160,000 or less for married taxpayers filing jointly). If your MAGI is over $80,000 but less than $90,000 (over $160,000 but less than $180,000 for married taxpayers filing jointly), the amount of your credit is reduced. If your MAGI is over $90,000 ($180,000 for married taxpayers filing joint), you can't claim the credit.

Hal_Al
Level 15

My AGI is 162,000 and I am claiming my son as dependent but it’s saying I am not eligible for American opportunity credit. Can’t I get partial credit?

Q.  Can’t I get partial credit?

A. Yes. TurboTax (TT) will do that automatically.  Since your AGI (and I assume MAGI) is close to $160K than to $180K, you should get most of the AOC. 

My AGI is 162,000 and I am claiming my son as dependent but it’s saying I am not eligible for American opportunity credit. Can’t I get partial credit?

Married filing jointly. Turbo tax is saying I am not eligible so I am not sure what am I doing wrong

Hal_Al
Level 15

My AGI is 162,000 and I am claiming my son as dependent but it’s saying I am not eligible for American opportunity credit. Can’t I get partial credit?

Q13. What is "modified adjusted gross income" for the purpose of the AOTC?

A13. For most filers, it is the amount of your AGI, adjusted gross income, from your tax return. If you file Form 1040 or 1040-SR, your MAGI is the AGI on line 11 of that form, modified by adding back any:

  • Foreign earned income exclusion
  • Foreign housing exclusion
  • Foreign housing deduction
  • Exclusion of income by bona fide residents of American Samoa or Puerto Rico.

If that's not the reason. Go back thru the interview, you may have answered something wrong.  Otherwise, review the requirements. 

https://ttlc.intuit.com/questions/3383321-why-didn-t-i-get-a-credit-or-deduction-for-education-expen...

 https://www.irs.gov/Individuals/AOTC

https://www.irs.gov/newsroom/american-opportunity-tax-credit-questions-and-answers

https://www.irs.gov/credits-deductions/individuals/education-credits-questions-and-answers

https://ttlc.intuit.com/community/college-education/discussion/i-have-a-1098-t-form-that-i-received-...

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