The American opportunity credit didn't increased after value changed

[Anita01 · Accepted solution]

Tuition and Fees is not a credit, it's a deduction.  The deduction behaves just like the $2500 part of the nonrefundable AOC credit.  You can use it to lower your taxable income but not to get cash back.  It will only reduce your taxable income to the point where you owe no tax and then the rest is lost.  There's no part of it that can be paid to you in cash like the AOC credit.

The AOC credit is virtually alway better for you if you qualify for it.

[Anita01]

The amount of credit you receive ha a maximum.  Once you pass these eligible amounts, adding more expenses doesn't help.

From the IRS:

"The amount of the credit is 100 percent of the first $2,000 of qualified education expenses you paid for each eligible student and 25 percent of the next $2,000 of qualified education expenses you paid for that student. But, if the credit pays your tax down to zero, you can have 40 percent of the remaining amount of the credit (up to $1,000) refunded to you"

$2500 of it is called a nonrefundable credit, meaning you can only use the amount up to where your tax owed reaches zero.  After that, you can get up to $1000 in cash, but that's it."

[janefloyd7]

So why wasn't I qualified for the  tuition and fee's credit?

[janefloyd7]

So why wasn't I qualified for the  tuition and fee's credit?

[janefloyd7]

So why wasn't I qualified for the  tuition and fee's credit?

[janefloyd7]

Ok Thanks.How Do I Delete My other questions in the community post on here?And the question underneath this one that was repeated?

[Anita01]

You can't but I'll have a moderator do it soon

[janefloyd7]

Ok Thanks.I hope in the near future that changes.But one more question 2015 Work W2'S was automatically uploaded But I didn't know where to AXCESS my w2 FOR 2016.How do I find them?

[Anita01]

Do you mean access them to download them, or just how to find them in the program?

[janefloyd7]

Access them to download them I think.In 2015 I Didn't have to fill the details out they we're already uploaded from my employer.

[Anita01]

I'm not a Tech Support person but following are instructions to import a W-2.  If you transfer from the prior year, some of the W-2 information transfers but none of the numbers.  That may be what you are thinking of.  If you click on the Federal taxes tab, then Wages and Income, you should see the W-2 topic to edit the one that transferred.  

Turbotax can never fill in numbers automatically, that requires a request from you to the company you worked for through entering certain information.

[janefloyd7]

My work employer is what I am referring to.the information from my W2'S was already imported over by them.but in this case I couldn't find them so I manually input the details.

[janefloyd7]

However One last Question if I Am being asked Were you enrolled in any of these less common plans in 2016?
Healthcare.gov plan
Obamacare Learn more
A plan that sent or will send a 1095-A
Another state's Marketplace plan Learn more
Does this question apply to me if I am on my mother case who receive assistance through the state?

[Anita01]

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