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Level 3
February 18, 2023
Question

Educational tax credits

  • February 18, 2023
  • 1 reply
  • 11 views

Program is calculating educational tax credit on AGI NOT MAGI

AGI is over the $180,000 MAGI is only $135,000

 

Am I missing something

 

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1 reply

Intuit Community Champion
February 18, 2023

Are you sure you are using the MAGI for education. It is AGI minus the following for education.          

  • Foreign earned income exclusion
  • Foreign housing exclusion
  • Foreign housing deduction
  • Exclusion of income by bona fide residents of American Samoa or Puerto Rico.
BAR833Author
Level 3
February 18, 2023

The MAGI that automatically populates shows the $135,000

It appears not to include SS benefits as they are written off on schedule A as Repayments, all went to LTD third party??!!??

 

BAR833Author
Level 3
February 18, 2023

SS disability payments to be clear