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Should the Lifetime Learning Credit show up in my refund? I thought it could only reduce the amount to zero even if you qualify for more credit.
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posted
April 10, 2020
9:06 AM
last updated
April 10, 2020
9:06 AM
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Should the Lifetime Learning Credit show up in my refund? I thought it could only reduce the amount to zero even if you qualify for more credit.
Q. Should the Lifetime Learning Credit show (LLC) up in my refund?
A. No. You are correct, it is a non refundable credit and can only be used to reduce your tax liability.
If you are seeing an amount on line 18c of form 1040, that is the refundable portion of the American Opportunity Credit (AOC). The AOC is more generous than the LLC, and is usually the credit that TurboTax will select, if you qualify. The LLC is the back up credit, for those who don't qualify for the AOC.
AOC rules: https://www.irs.gov/Individuals/AOTC
April 10, 2020
9:13 AM
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Should the Lifetime Learning Credit show up in my refund? I thought it could only reduce the amount to zero even if you qualify for more credit.
Why is it showing up as a refund and how do I fix it?
Note: I do not qualify for the AOTC, I've already completed four years of college.
April 10, 2020
9:45 AM
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