in Education
You'll need to sign in or create an account to connect with an expert.
The amount of your lifetime learning credit is phased out (gradually reduced) your MAGI is between $80,000 and $90,000 ($160,000 and $180,000 if you file a joint return).
You can't claim a lifetime learning credit if your MAGI is $90,000 or more ($180,000 or more if you file a joint return).
The amount of your American opportunity credit is phased out (gradually reduced) if your MAGI is between $80,000 and $90,000 ($160,000 and $180,000 if you file a joint return). You can't claim an American opportunity credit if your MAGI is $90,000 or more ($180,000 or more if you
file a joint return).
Modified adjusted gross income (MAGI).
For most taxpayers, MAGI is adjusted gross income (AGI) as figured on their federal income tax return. MAGI when using Form 1040 or 1040-SR. If you file
Form 1040 or 1040-SR, your MAGI is the AGI on line 11 of that form, modified by adding back any:
1. Foreign earned income exclusion,
2. Foreign housing exclusion,
3. Foreign housing deduction,
4. Exclusion of income by bona fide residents of American Samoa, and
5. Exclusion of income by bona fide residents of Puerto
Rico.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
wendyz123
New Member
in Education
NT25
Level 1
dawnavagliano
New Member
in Education
bert28
New Member
in Education
sherry-long1970
New Member
in Education