American Opportunity
Tax Credit For 2018, the amount of the American Opportunity Tax Credit is
phased out if your modified adjusted gross income (MAGI) is between $80,000 and
$90,000 Single ($160,000 - $180,000 Married Filing Jointly)
Lifetime
learning credit. “For
2018, the amount of your lifetime learning credit is gradually reduced (phased
out) if your MAGI is between $57,000 and $67,000 ($114,000 and $134,000 if you
file a joint return)."
There is an option where a dependent student may claim the non-refundable portion of an education credit, but this is ONLY allowed if the student does not claim his/her exemption and the person that COULD claim the student also does not. (no one claims the student)
In the TurboTax programs, the parents do not claim the student. The student files and selects "YES Someone else CAN claim me" but "NO, no one else WILL claim me".
Again, this will only give the student the "non-refundable" portion of the credit (if the student meets the other requirements as well)
CLICK
HERE for IRS Pub 970, Tax Benefits for Education
"TurboTax 2018 help also states there is a high-income Tuition and Education expenses route and a calculator "
I have not seen this link. If you know where you saw this, let me know.
You may also submit a new post asking this one particular question in case another agent knows the answer.
