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Get your taxes done using TurboTax
That is actually the rule for the credit - there is only a max of $5,000 original loan amount allowed to be used for the calculation. The maximum amount of the actual credit is $500. If you take a look at the form and follow the calculations, then you can see Line 11 mentions the $5,000 maximum directly on the form.
‎June 4, 2019
10:23 PM