You'll need to sign in or create an account to connect with an expert.
The Lifetime Learning credit is a non-refundable credit. If you only have income of $10,838, then it is less than the standard deduction of $12,200 and you have no income tax liability which could be reduced by the Lifetime learning credit.
You should a tax liability for self-employment tax that the LLC cannot offset.
and the self-employment tax should be $1532 and as @MinhT1 noted, it can not be offset by the learning credit
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
aerdengi
New Member
edga__2
New Member
bryanna-j00
New Member
cmt2002-gmail-co
Level 1
dae0d544450d
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.