how much education credit can we get?

Forum|Forum|2 years ago
February 19, 2024
1 reply
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We had 3 kids in college last year and the year before. We got $7500 education credit in the previous filing but got $0 for this year. Could you please advise why? Thank you

Best answer by MayaD

I can't tell why you didn't receive the credit without being able to see your return.

However, there is no credit given if your MAGI is above $90,000 ($180,000 if you’re filing jointly).

Also, an eligible student is defined as a student who:

Is enrolled at least half-time in a program leading to a degree, certificate, or other recognized credential.
Had at least one academic period beginning during the year.
Didn't claim the American Opportunity Tax Credit for more than three previous years.
Didn't complete the first four years of post-secondary education before the beginning of the year.

For more information please check: Who is eligible to take the American Opportunity Tax Credit?

IRS.gov

MayaDAnswer

I can't tell why you didn't receive the credit without being able to see your return.

However, there is no credit given if your MAGI is above $90,000 ($180,000 if you’re filing jointly).

Also, an eligible student is defined as a student who:

Is enrolled at least half-time in a program leading to a degree, certificate, or other recognized credential.
Had at least one academic period beginning during the year.
Didn't claim the American Opportunity Tax Credit for more than three previous years.
Didn't complete the first four years of post-secondary education before the beginning of the year.

For more information please check: Who is eligible to take the American Opportunity Tax Credit?

IRS.gov

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