No education credit is allowed if filing MFS, student is not your dependent or student is non-resident alien. There are income thresholds as well.
- American Opportunity The maximum credit is $2,500 per student. Credit is phased out at modified AGI between $80,000 and $90,000 ($160,000 and $180,000 MFJ).
- Tuition and Fees Deduction Tax Benefit Taxpayers may deduct qualified education expenses they paid for eligible students up to:
- • $4,000 if modified AGI is $65,000 or less ($130,000 or less MFJ)
- • $2,000 if modified AGI is $80,000 or less ($160,000 or less MFJ)
- • $0 if modified AGI is over $80,000 ($160,000 MFJ)
- Lifetime Learning Credit Income limit. Maximum credit of $2,000. Credit is phased out at modified AGI between $59,000 and $69,000 ($118,000 and $138,000 MFJ).
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