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The lifetime learning credit and the American opportunity credit MAGI limits are $180,000 if you're married filing jointly ($90,000 if you're filing single, head of household, or qualifying surviving spouse).
Q12. Is there an income limit for AOTC? A12. Yes. To claim the full credit, your MAGI, modified adjusted gross income (See Q&A 13 for MAGI definition) must be $80,000 or less ($160,000 or less for married taxpayers filing jointly).
Compare Education Credits You can claim these two benefits on the same return but not for the same student or the same qualified expenses. See " No Double Benefits Allowed " for more information on claiming one or more education benefits.
A separate return includes a return claiming married filing separately, single, or head of household filing status. You paid more than half the cost of keeping up your home for the tax year. Your spouse didn't live in your home during the last 6 months of the tax year.
23 Φεβ 2024 · Income Limits & Phaseout (for 2023 & 2024): a taxpayer whose modified adjusted gross income is $80,000 or less ($160,000 or less for joint filers) can claim the credit for the qualified expenses of an eligible student. The credit begins to phase out above those MAGI levels.
12 Νοε 2024 · There are income limits for the AOTC. The credit phases out from a modified adjusted gross income (MAGI) of $80,000 to $90,000 for a single taxpayer, head of household, or qualifying...
Lifetime Learning Credit - Taxpayers cannot claim the credit if modified adjusted gross income (AGI) is $64,000 or more ($128,000 or more if married filing jointly). Modified AGI is adjusted gross income modified by certain exclusions. This chart shows the education credit eligibility requirements, based on filing status and modified AGI.
