I paid a LOT in tuition for my daughter this year, but TurboTax is only showing an educational credit of $670 for the American Opportunity Credit instead of the $2500 I got last year.
When I go to the deduction summary, TurboTax is not showing other credits that it said I was eligible for previously such as home energy credits and vehicle registrations. Very frustrated.
NomeMan,
Not knowing your tax situation, the most likely cause for this would be:
American Opportunity Credit phaseout – If your modified adjusted gross income (MAGI) is more than $80,000 ($160,000 if you're married filing jointly), your eligibility will start to “phase out” – meaning you may only qualify for a partial credit or none at all.
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