I paid $37,000 to Oxford University for a Master's Degree, TurboTax is saying I'm not eligible for an education credit. Why not? I have taxable income + it should qualify

Forum|Forum|2 years ago
February 28, 2024
2 replies
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No one can claim me as a dependent either. I see no reason why I'm not qualifying

TurboTax Deluxe Online

Hal_Al

Employee

Because you're a grad student, you're only eligible for the Lifetime Learning Credit (LLC).

If you are eligible, you have answered something wrong, in the interview. But, a lot of people are just not eligible.

https://www.irs.gov/individuals/llc

https://ttlc.intuit.com/questions/3383321-why-didn-t-i-get-a-credit-or-deduction-for-education-expen...

https://www.irs.gov/credits-deductions/individuals/education-credits-questions-and-answers

If you can't find your error, delete it and start over. Go through the entire education interview until you reach a screen titled "Your Education Expenses Summary". Click delete next to the student's name. You'll then get the "Your Education Expenses Summary" screen again. Click the "Add a student" button.

andrewjaskoAuthor

Thanks, I should be eligible but the software is not giving me the credit.

mglauner

We can't see your tax return in this forum. The software is working fine in my test return.

If you're using TurboTax Online, close the program, clear your Cache and Cookies and return to the Education section.

Try a different browser and make sure you have no other programs running (like Email, or pop-up blockers).

DELETE the entries you have made in the Education section and carefully go through the interview again.

If that doesn't resolve your issue, Contact TurboTax Support.

Here's more info on the Education Credits.

@andrewjasko

MayaD

There are two Education credits available, the American Opportunity Tax Credit and the Lifetime Learning Credit.

You can't claim the American Opportunity Tax credit. The credit is only available for the first 4 years of postsecondary school when pursuing an undergraduate degree or educational credential.

The life learning credit is reduced (phased out) if your 2023 modified adjusted gross income (MAGI) is between $80,000 and $90,000 ($160,000 to $180,000 if Married Filing Jointly). Since this isn't a refundable credit, the credit can't be more than your tax liability.

Please check: What expenses qualify for the Lifetime Learning Credit?

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andrewjaskoAuthor

Hi thanks, my 2023 modified adjusted gross income was not between $80,000 and $90,000, so why does it not show me as qualifying? I meet all the requirements, the software appears to not be working.