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April 17, 2023
Question

The lifetime learning credit is not working. I qualify and see that I qualify, but I am unable to use the "letme" override to apply the credit.

  • April 17, 2023
  • 1 reply
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When I use the "letme" override, I see that I am eligible, I'm able to check the Lifetime Learning Credit button, and then the next screen says I am ineligible.

1 reply

Hal_Al
Employee
April 17, 2023

The LLC is non refundable. It can only be used to offset an income tax liability.

April 17, 2023

Thanks! That makes sense, but it's still showing that I owe quite a lot in federal taxes. Does "offset an income tax liability" mean that the LLC would be deducted from what I owe? If so it looks like it is not working properly. 

Hal_Al
Employee
April 17, 2023

Q.  Does "offset an income tax liability" mean that the LLC would be deducted from what I owe?

A. Yes.

 

 If you are eligible, you have answered  something wrong, in the interview. Go thru the interview again (you may want to delete and start over).   But, a lot of people are just not eligible. 

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

and this

 https://www.irs.gov/individuals/llc