Why am I only getting a $500 American Opportunity Credit when I have 2 students in my household?

Forum|Forum|5 years ago
February 6, 2021
1 reply
0 views

No text available

TurboTax Deluxe Online

LenaH

If your American Opportunity Credit is phased out and you are not getting the full amount of the credit, then it may be due to your modified adjusted gross income (MAGI).

In order to receive the full credit amounts, your MAGI must be $80,000 or less ($160,000 or less for married filing jointly). You receive a reduced amount of the credit if your MAGI is over $80,000 but less than $90,000 (over $160,000 but less than $180,000 for married filing jointly).

To get your MAGI, please read about the MAGI calculation on TurboTax's page What is the Difference Between AGI and MAGI on your Taxes?

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"