If I couldn't claim the AOC, why wasn't I given opportunity to claim LLC?

Forum|Forum|1 year ago
October 12, 2024
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Best answer by Hal_Al

If you're eligible, TurboTax (TT) will give you the Lifetime Learning Credit (LLC).

If you think TT missed it,

Type letme (no space between let & me) in the search box. Then press enter. Then click on the link "jump to letme''. *

TT will give you the option to select another tuition credit or deduction.

The lifetime learning credit is a credit against tax owed. If you owe no tax because you don't have income, you have no tax to be reduced by the credit.

*If that doesn't work, Type letme (no space between let & me) in the search box. When the dropdown list appears, click on letme rather than "jump to letme'. On the next drop down, click on the "jump to letme” link.

TT will give you the option to select another tuition credit or deduction.

xmasbaby0

Employee

Do you have a tax liability? The Lifetime Learning Credit is not refundable. That credit can only be used to reduce any tax you owe. Do you owe any tax? And....are you being claimed as someone else's dependent? Dependents cannot get education credits--only the person who can claim you as a dependent can get the credit.

https://ttlc.intuit.com/questions/1901172-what-education-tax-credits-are-available

https://www.irs.gov/help/ita/am-i-eligible-to-claim-an-education-credit

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

https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-lifetime-learning-credit/00/26844

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.**

Hal_AlAnswer

Employee

If you're eligible, TurboTax (TT) will give you the Lifetime Learning Credit (LLC).

If you think TT missed it,

Type letme (no space between let & me) in the search box. Then press enter. Then click on the link "jump to letme''. *

TT will give you the option to select another tuition credit or deduction.

The lifetime learning credit is a credit against tax owed. If you owe no tax because you don't have income, you have no tax to be reduced by the credit.

TT will give you the option to select another tuition credit or deduction.

lode124933Author

Okay, good to know how to work the software. I didn't understand the differences between them, only knew that I've been in school for more than 4 years, but am still working toward graduating with a BA. But, no, I don't owe any tax and am not a dependent, nor do I have any dependents. Makes more sense now, thanks.