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March 15, 2021
Question

Why no Lifelong Learning Credit?

  • March 15, 2021
  • 1 reply
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In 2019, I paid more than $10,000 in eligible graduate school tuition and received a $2,000 Lifelong Learning Credit.

 

In 2020, I again paid more than $10,000 in eligible graduate school tuition. However, Turbotax says that I am only eligible for a $61 Lifelong Learning Credit. 

 

Any suggestions about what the problem is? Why am I not eligible for a $2000 credit again? Thanks very much.

1 reply

March 15, 2021

The Lifetime Learning Credit is a Non Refundable credit. That can only be applied against the tax that is owed.

 

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john20211Author
March 15, 2021

Hi, thank you. However, I still owe tax, which is why I don't understand why I am not receiving the credit (up to the amount of my tax owed). 

March 15, 2021

Was the credit phased-out because of your income?

 

 

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