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ahelms
Level 1

My 1098-T shows that I paid $7915 so why don't I get a tax credit of 20% or $1583?

I make less than $68K.
2 Replies
CatinaT1
Expert Alumni

My 1098-T shows that I paid $7915 so why don't I get a tax credit of 20% or $1583?

Which credit are you using?  Lifetime Learning Credit has a limit of $58,000 if single.

 

https://turbotax.intuit.com/tax-tips/college-and-education/the-lowdown-on-education-tax-breaks-/L5n9...

 

Education Credits

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ahelms
Level 1

My 1098-T shows that I paid $7915 so why don't I get a tax credit of 20% or $1583?

Thank you for helping. I am using the lifetime learning credit but do not see the 58k limit. On instructions for form 8863 it’s says 68k is single.

 

thanks again! 

Alice

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