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Level 2

Question

Tax Year Prior to 2020: College Tuition

Forum|Forum|6 years ago
February 23, 2020
11 replies
38 views

Why is college tuition we paid for our children not counting as a tax credit and/or deduction?

Level 7

These are requirements for the credits:

You can’t claim both the American Opportunity Credit and the Lifetime Learning Credit for the same student.
You can’t claim either of these credits if both of these are true:
- You’re married.
- You and your spouse file separate returns.

Both credits are phased out as your income climbs:

Lifetime Learning Credit:
- If you’re filing as single or head of household, the credit starts phasing out at $55,000 and is eliminated at $65,000.
- If married filing jointly, the credit starts phasing out at $110,000 and is eliminated at $130,000.
American Opportunity Credit:
- If you’re filing as single or head of household, the credit starts phasing out at $80,000 and is eliminated at $90,000.
- If married filing jointly, the credit starts phasing out at $160,000 and is eliminated at $180,000.

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cturner216Author

Level 2

We are married filing jointly and our adjusted income is under $160,000. Why are we not getting a credit from Turbo Tax for college tuition?

Level 7

Which of the two credits are you claiming? American Opportunity Tax Credit (AOTC) or Lifetime Learning Credit?

If it is the AOTC make sure that you don't have any scholarship or grants in your 1098-T that exceeds the tuition amount in box 1.

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