Parent claiming child as a full time freshman (2017). Taxes owed exceed any credits. TT Step-by-step says $2500, worksheet only gives me $1500. MAGI Married Joint below $180K
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There are two parts to the American Opportunity Tax Credit (AOTC). The credit is split out in two different places on your income tax return.
The first is a maximum nonrefundable credit of up to $1,500. The nonrefundable credit can be up to $1,500, .
The second is a refundable credit of $1,000.
However, keep in mind that there are other requirements to be eligible to claim the AOTC credit. For additional information, click on Who is eligible to take the American Opportunity Tax Credit?
You may be eligible for the Lifetime Learning Credit. Click on Who is eligible for the Lifetime Learning Credit?
Related information:
There are two parts to the American Opportunity Tax Credit (AOTC). The credit is split out in two different places on your income tax return.
The first is a maximum nonrefundable credit of up to $1,500. The nonrefundable credit can be up to $1,500, .
The second is a refundable credit of $1,000.
However, keep in mind that there are other requirements to be eligible to claim the AOTC credit. For additional information, click on Who is eligible to take the American Opportunity Tax Credit?
You may be eligible for the Lifetime Learning Credit. Click on Who is eligible for the Lifetime Learning Credit?
Related information:
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