Form 1098-T

[cepruett]

I entered the value of 1098-T and the Turbo Tax response was (1) your income exceeds max limit. What is the max limit? (2) There is no net qualified education expense. I entered the amount from 1098-T???

[DanaB27]

Your income might be too high to qualify for an education credit.

To take the American Opportunity Tax Credit your modified adjusted gross income must be $90,000 ($180,000 if married filing jointly) or less. The credit is reduced between $80,000 and $90,000 ($160,000 and $180,000 if you are married filing jointly).

To take the Lifetime Learning Credit your modified adjusted gross income must be less than $67,000 ($134,000 if you are married filing jointly). The credit is reduced between $57,000 and $67,000 ($114,000 and $134,000 if you are married filing jointly).