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julianna-gardner
New Member

Why did I not get the full lifetime learning credit? My 1098-T shows $8982 and my credit was only 1,467, not 8982*0.2 = $1796. My income this year was 23,000.

 
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SweetieJean
Level 15

Why did I not get the full lifetime learning credit? My 1098-T shows $8982 and my credit was only 1,467, not 8982*0.2 = $1796. My income this year was 23,000.

The LLC is not refundable. So, you can use the credit to pay any tax you owe, but you won’t receive any of the credit back as a refund.

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1 Reply
SweetieJean
Level 15

Why did I not get the full lifetime learning credit? My 1098-T shows $8982 and my credit was only 1,467, not 8982*0.2 = $1796. My income this year was 23,000.

The LLC is not refundable. So, you can use the credit to pay any tax you owe, but you won’t receive any of the credit back as a refund.

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