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acb271
Level 2
February 10, 2020
Question

Tax Year Prior to 2020: American Opportunity credit

  • February 10, 2020
  • 1 reply
  • 4 views

m y MAGI is $85500.  Why does turbo tax not compute the Amerrican Opportunity credit for 2019.  I thought the credit is available for single incomes under $90000.

    1 reply

    M
    MayaD
    Alumni - Intuit
    February 10, 2020

    The maximum annual credit per student is $2,500. You qualify for the credit if you:

    • Have not completed the first four years of post-secondary education.
    • Enroll in at least one academic semester during the applicable tax year.
    • Maintain at least half-time status in a program leading to a degree or other credential.
    • Have ever been a state or federal criminal because of a drug conviction, then he/she isn’t eligible for the tax credit.

    For single Taxpayer the credit will phase out if your Adjusted gross income is between $80000 and $90000.

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
      A
      acb271Author
      Level 2
      February 10, 2020

      I understand the credit is phased out but turbo tax is not showing a phased out credit amount 

      M
      MayaD
      Alumni - Intuit
      February 10, 2020

      Another reason why you didn't qualify for the credit might be if you received any grants or

      scholarships.

      **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
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