☰
✕
Sign In

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 Mar 2, 2021 10:03:20 AM

tuition

I entered my daughters tution in turbotax using 1098-T form as well as book expenses.  TurboTax said my income was too much to claim college expenses.  How is that even possible?  What is the tax bracket for married jointly for the cutoff?

0 2 475
2 Replies
Expert Alumni
Mar 2, 2021 10:21:49 AM

What are the income limits for the AOTC?

  • To claim the full credit, your modified adjusted gross income (MAGI) must be $80,000 or less ($160,000 or less for married filing jointly).
  • You receive a reduced amount of the credit if your MAGI is over $80,000 but less than $90,000 (over $160,000 but less than $180,000 for married filing jointly).
  • You cannot claim the credit if your MAGI is over $90,000 ($180,000 for joint filers).

What are the income limits for Lifetime Learning Credit?

  • For TY2020, the amount of your LLC is gradually reduced (phased out) if your MAGI is between $59,000 and $69,000 ($118,000 and $138,000 if you file a joint return).
  • You can’t claim the credit if your MAGI is $69,000 or more ($138,000 or more if you file a joint return).

What are the income limits for the Tuition and fees deduction?

  • Taxpayers with a 2020 MAGI up to $65,000 ($130,000 if married filing jointly) may claim a maximum $4,000 deduction.

Level 15
Mar 3, 2021 11:46:58 AM

Who is eligible to claim the Tuition and Fees Deduction?

Taxpayers who meet the following requirements may claim the Tuition and Fees Deduction for the 2019 or 2020 tax year, or for the 2018 tax year by filing an amended return:

  • Taxpayers with a 2018, 2019 or 2020 annual modified adjusted gross income up to $65,000 ($130,000 if married filing jointly) may claim a maximum $4,000 deduction.
  • Taxpayers with a 2018, 2019 or 2020 annual modified adjusted gross income between $65,001 and $80,000 ($130,001 and $160,000 if married filing jointly) may claim a maximum $2,000 deduction.