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bluerose9594
May 2, 2021
Question

Lifetime learning credit should be 20% of adj qualified education expenses. Turbo Tax only figured approximately 9%

  • May 2, 2021
  • 1 reply
  • 0 views
My students expenses were $911. TurboTax figured $98 for her credit amount.  $98 is only approximately 9%.  Her credit should be $182.20

1 reply

B
Bsch4477
Employee
May 2, 2021

I assume that you did not claim the student as a dependent. 

Was the tax owed by the student less than what you calculated she should get?  The credit is applied to tax owed. Any extra is not a refundable credit. 

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