turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Ezam
New Member

1098E and 1098T - JOINT FILING

If my spouse and I file married jointly, can I get credit for her 1098T as well as my 1098E interest in the filing?

 

What are the qualifications and credits?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Vanessa A
Employee Tax Expert

1098E and 1098T - JOINT FILING

Possibly. In order to claim any education credits or student loan interest, one of the criteria is that if you are married you would have to file a joint return.  If you and your wife meet the criteria below, then yes, you can claim both an education credit and your student loan interest expense on your return as a married couple filing jointly.

 

In order to claim the Student Loan interest, you also must be legally obligated to pay the interest and have paid the interest.  As a married couple, your MAGI must be less than $155,000 to take the full deduction and less than $185,000 to take a gradually reduced deduction. 

 

As for education credits: The qualifications of the credits are below:

 Lifetime Learning Credit

  • You can take this for an unlimited number of years
  • Twenty percent of expenses up to $2,000
  • Non-Refundable meaning this can reduce the amount of taxes you owe, but if your tax liability is less than the LLC, your tax will be reduced to $0 and the rest of the credit is lost. 
  • Cannot be claimed as a dependent on any one else's return
  • As a Married couple, your income must be below $160,000 for the full credit and below $180,000 for a partial credit

American Opportunity Tax Credit.

  • Available for the first 4 years of college
  • Max amount is $2,500 per student
  • Partially refundable credit meaning if your tax liability is $0, 40% (up to $1,000) is refundable
  • Be enrolled in a degree or credential seeking program
  • Not have a felony drug conviction
  • Be enrolled at least half time
  • cannot be claimed as a dependent on anyone else's return.
  • As a Married couple, your income must be below $160,000 for the full credit and below $180,000 for a partial credit

 

Tax Deductions for Voluntary Interest Payments on Student Loans

What Are Education Tax Credits

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies