Is my son eligible to receive the American Opportunity Credit if I earn in excess of $90K/year?

robertmoon73 — Thu, 06 Jun 2019 14:27:51 GMT

My son is in the process of getting his bachelors degree. He's a full time student at the UMN. I'm married, filing jointly. I make in excess of $90k/year. Turbotax program claims my son is eligible to receive the American Opportunity Credit but I don't understand how that is possible given my income level. Please explain.

If you are Married Filing Jointly, then the income limit...

Vanessa — Thu, 06 Jun 2019 14:27:53 GMT

If you are Married Filing Jointly, then the income limit is $180,000. So yes, based on the information you are providing you are eligible for the American Opportunity Credit.

What are the income limits for AOTC?

To claim the full credit, your MAGI,? modified adjusted gross income must be $80,000 or less ($160,000 or less for married filing jointly).
You receive a reduced amount of the credit if your MAGI is over $80,000 but less than $90,000 (over $160,000 but less than $180,000 for married filing jointly).
You cannot claim the credit if your MAGI is over $90,000 ($180,000 for joint filers). https://www.irs.gov/credits-deductions/individuals/aotc

topic Is my son eligible to receive the American Opportunity Credit if I earn in excess of $90K/year? in Education

Is my son eligible to receive the American Opportunity Credit if I earn in excess of $90K/year?

If you are Married Filing Jointly, then the income limit...