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June 6, 2019
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My Income is less than $40,000 and my husband's education expenses are nearly $40,000. Why didn't I get the full $2000 deduction for the Lifetime Learning Credit?

  • June 6, 2019
  • 3 replies
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Best answer by SweetieJean

The LLC is a nonrefundable credit. It can lower your taxes due to zero, but that's as far as it goes.

https://www.irs.gov/credits-deductions/individuals/llc

3 replies

Employee
June 6, 2019
Any other income? Scholarships or grants?
Employee
June 6, 2019

The LLC is a nonrefundable credit. It can lower your taxes due to zero, but that's as far as it goes.

https://www.irs.gov/credits-deductions/individuals/llc