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March 4, 2020
Solved

Why is the education expense credit broken? I put in 18,000 for box 1 and 5,000 for box 5 for 1099T. It should apply the lifetime learning credit, but it just says $0.

  • March 4, 2020
  • 2 replies
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Best answer by darbarinyc

It's because our income is too high. 
You can’t claim the credit if your MAGI is $68,000 or more ($136,000 or more if you file a joint return).

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

2 replies

Hal_Al
Employee
March 4, 2020

The lifetime Learning Credit (LLCis a nonrefundable credit. It can only be used to reduce an actual tax liability.  If that is not your case, you've answered something wrong in the interview.  You can not claim the credit if you are or can be somebody else's dependent. 

 

For LLC rules, see https://www.irs.gov/individuals/llc

March 6, 2020

Nope. I have a lot of tax liability, that's not it. I haven't answered anything wrong in the interview, I went through it several times. I'm not a dependent of anyone. 

darbarinycAuthorAnswer
March 6, 2020

It's because our income is too high. 
You can’t claim the credit if your MAGI is $68,000 or more ($136,000 or more if you file a joint return).

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