1098t

Forum|Forum|3 years ago
March 5, 2023
2 replies
25 views

HOH taxpayer

w2 $88,000

1 dependent 17

1 dependent 22

1098t $46,000

only credit for 1098t is $790. I double checked my input. Why so low?

If I put it on the sons who made $10K he gets $1k credit

Why is the taxpayer/moms credit so low? am I missing something???? AOC yes and LLC yes for both it says

ProSeries Professional

This topic has been closed for replies.

dd4vols

Intuit Community Champion

Simple. If you have 'double-checked" your input. Then, find the $790 credit on your 1040. And drill down on each preceding form, until you find the form with the limitation. then STUDY and REVIEW that form to find your answer. That is what 99.9% of tax preparers would do. So they would know the answer themselves the next time this issue arose. You can't expect this community to analyze every return that you don't understand.

If an answer solves your issue, click on the "Mark as Best Answer" button! Makes it easier for people to find answers to similar questions that have already been posted.

MGC94Author

Level 7

I can't figure it out. That is why I am asking

IRonMaN

Level 15

Has the possibility of income limitations crossed your mind?

Slava Ukraini!

T

Terry53029

Intuit Community Champion

A dependent cannot receive any education credits only the TP that is claiming the dependent, and the credit has income limitations, as others have pointed out.

What are the income limits for AOTC?

To claim the full credit, your modified adjusted gross income (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).
You cannot claim the credit if your MAGI is over $90,000 ($180,000 for joint filers).

What are the income limits for AOTC?

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