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Why is the TURBO TAX program saying I can't get the education tax credit? When I filled out the questionaire on the Govt. site & the IRS said I would get the tax credit.

The only reason I can see is that it says "your income exceeds the maximum limit" but we don't make that much per year....and there's nothing on TT's info that tells you what that amount / threshold IS.
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1 Reply
KrisD15
Employee Tax Expert

Why is the TURBO TAX program saying I can't get the education tax credit? When I filled out the questionaire on the Govt. site & the IRS said I would get the tax credit.

According to the IRS:

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.
 

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