Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 4, 2019 4:20:39 PM

My AOTC amount is wrong

My education expenses are $1947 and my income is definitely below the income threshold. However, turbo tax is calculating $779 AOTC and $538 education non refundable credit. It's saying I owe $1546 federal tax at the end, so I know that I should get all $1947 as my AOTC. What's going on? 

0 1 600
1 Replies
Intuit Alumni
Jun 4, 2019 4:20:40 PM

The AOTC will decrease your tax liability with 40% being refundable. The AOTC will reduce the total tax, but will not reduce your self-employment tax if you are self-employed. Check to see what your total tax is and verify that that amount has been reduced by the AOTC credit and the remaining amount is SE tax.