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 Apr 17, 2023 5:47:07 AM

The lifetime learning credit is not working. I qualify and see that I qualify, but I am unable to use the "letme" override to apply the credit.

When I use the "letme" override, I see that I am eligible, I'm able to check the Lifetime Learning Credit button, and then the next screen says I am ineligible.

0 5 1109
5 Replies
Level 15
Apr 17, 2023 5:50:13 AM

The LLC is non refundable. It can only be used to offset an income tax liability.

New Member
Apr 17, 2023 5:52:58 AM

Thanks! That makes sense, but it's still showing that I owe quite a lot in federal taxes. Does "offset an income tax liability" mean that the LLC would be deducted from what I owe? If so it looks like it is not working properly. 

Level 15
Apr 17, 2023 5:57:29 AM

Q.  Does "offset an income tax liability" mean that the LLC would be deducted from what I owe?

A. Yes.

 

 If you are eligible, you have answered  something wrong, in the interview. Go thru the interview again (you may want to delete and start over).   But, a lot of people are just not eligible. 

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

and this

 https://www.irs.gov/individuals/llc

New Member
Apr 17, 2023 6:03:52 AM

Thanks! Since it's showing "Yes" under eligibility, it looks like I am eligible and the program must not be working correctly. I've inputted my 1098-T three times. 

Level 15
Apr 17, 2023 6:14:20 AM

I see you're using TT Self Employed.

 

The LLC cannot be used to offset self employment tax; only income tax.