Education

 

 

Are those the exact amounts?

Alice's LLC: $1,406

Nate's LLC: $594


What are the exact amounts on your Form 1040 lines 18 through 22?

18: $10,336

19: $1,000

20: $2,000

21: $3,000

22: $7,336

 

As Hal_Al suggested in one of your other threads, it sounds like your tax liability might not be large enough for you to get the maximum Lifetime Learning Credit. If Form 1040 line 22 is zero you cannot get any more credit. It doesn't matter how you allocate it between the two children.

 

There is no way that you can make the total credit any higher. It has already reduced your tax to zero.

Image10.jpg

 

Please do not post any more separate questions about your problems with the Lifetime Learning Credit. When information is scattered in multiple threads it's confusing and hard to follow, and hard to see the whole picture.

Sorry!

 

Thanks, again, for all your help!

 

Q