Turbo tax not allowing life time credit for son, 24 yrs old, graduate student, paid $35000+ in fees, $5000 grant, why? filing joint with wife.

cesarting — Sat, 01 Jun 2019 15:28:23 GMT

What are the income limits for LLC? For TY2018, the amo...

SweetieJean — Sat, 01 Jun 2019 15:28:25 GMT

What are the income limits for LLC?

For TY2018, the amount of your LLC is gradually reduced (phased out) if your MAGI is between $57,000 and $67,000 ($114,000 and $134,000 if you file a joint return).
You can’t claim the credit if your MAGI is $67,000 or more ($134,000 or more if you file a joint return).

What is the LLC worth?

The amount of the credit is 20 percent of the first $10,000 of qualified education expenses, or a maximum of $2,000 per return. The LLC is not refundable. So, you can use the credit to pay any tax you owe, but you won’t receive any of the credit back as a refund.

https://www.irs.gov/credits-deductions/individuals/llc

topic Turbo tax not allowing life time credit for son, 24 yrs old, graduate student, paid $35000+ in fees, $5000 grant, why? filing joint with wife. in Education

Turbo tax not allowing life time credit for son, 24 yrs old, graduate student, paid $35000+ in fees, $5000 grant, why? filing joint with wife.

What are the income limits for LLC? For TY2018, the amo...