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mdlof05
New Member

What do I need to look for specifically in TurboTax to make sure it sees I make less than $10K/year(which I do) so that I can claim the LLC?

I worked over the summer for college and made just shy of $9K over the summer. I'm paying for college all on my own, and for some reason, when I try to claim the LLC, it says that I make more than $90K/year or am ineligible. I read through the qualifying descriptions and I can't find any that would exempt me from claiming this. Where should I look to make sure TurboTax or I messed up?
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1 Best answer

Accepted Solutions
xmasbaby0
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

What do I need to look for specifically in TurboTax to make sure it sees I make less than $10K/year(which I do) so that I can claim the LLC?

The Lifetime Learning Credit is a non-refundable credit.   It can reduce your tax owed.  If you have no tax liability, the credit does nothing for you.   

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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2 Replies
xmasbaby0
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

What do I need to look for specifically in TurboTax to make sure it sees I make less than $10K/year(which I do) so that I can claim the LLC?

The Lifetime Learning Credit is a non-refundable credit.   It can reduce your tax owed.  If you have no tax liability, the credit does nothing for you.   

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

What do I need to look for specifically in TurboTax to make sure it sees I make less than $10K/year(which I do) so that I can claim the LLC?

LIFETIME LEARNING CREDIT

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/expenses-qualify-...

 

 

https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-lifetime...

 

https://ttlc.intuit.com/questions/3262984-who-is-eligible-for-the-lifetime-learning-credit

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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