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Level 2
posted Apr 7, 2024 4:55:12 PM

Help with Lifetime Learning Credit

I'm filing for my son.  He is 26 years old and attending Medical School (second year).  I added his 1098-t and his income was about 36k for the year, including $3k for earned income and $33k for investment (unearned).   Yet he is "ineligible" for the LLC.  He now owes according to TT $270 in federal and $1600 in MA State Taxes - Shouldn't he be eligible for LLC since he spend $69k in tuition charges on 1099T?

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1 Replies
Expert Alumni
Apr 8, 2024 12:06:03 PM

Yes, it would seem so. Either there is more to the story or something was not fully entered. Here are the rules from IRS LLC:

To claim the LLC, you must meet all three of the following:

  1. You, your dependent or a third party pay qualified education expenses for higher education.
  2. You, your dependent or a third party pay the education expenses for an eligible student enrolled at an eligible educational institution.
  3. The eligible student is yourself, your spouse or a dependent you listed on your tax return.

See "Who Cannot Claim an Education Credit" on our Education Credits — AOTC and LLC page.