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February 1, 2024
Question

Turbotax is saying that I am not eligible for an education credit because my MAGI is over the threshold, however, my MAGI is not over the threshold. Why would that be?

  • February 1, 2024
  • 1 reply
  • 0 views
It says....You earned too much to qualify for this credit. The max you can earn and still get this credit is $0. Your modified adjusted gross income, the income calculation that the IRS uses to determine whether you qualify, is $XX,XXX (less than $80k).

1 reply

February 2, 2024

You probably don't qualify for some reason not related to your income. That is why the message says the maximum you can earn to get the credit is $0. That means no matter what your income is you don't qualify. That can happen if someone else claims you as a dependent. Also, If your scholarship income (line 5 on Form 1098-T)  is more than your tuition (Line 1.) Also, if you were not enrolled at least half-time. Also, if you don't have a tax liability you may not qualify. I suggest you go back through your education credit entries and make sure you entered everything correctly.

 

To view your form 1040 and schedule 1 to 3:

 

  1. Choose Tax Tools from your left menu bar in TurboTax Online
  2. Choose Tools
  3. Choose View Tax Summary
  4. See the Preview my 1040 option in the left menu bar and click on it
  5. Choose the Back option in the left menu bar when you are done 

See if there is any tax listed on line 24.

 

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