Announcement

Collapse
No announcement yet.

TP has EIC but cannot get Education credit

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    TP has EIC but cannot get Education credit

    Hmmm.... HOH with $14K AGI. 1098T has $17K box 1, $2675 box 5 & box 8 is checked. Cannot seem to get TP - American Opp credit.

    #2
    Education Credit

    Seems like they should... I actually tested your figures in my software, and I'm getting the maximum amount of AOC that is refundable, which is $1000.00.

    They don't get the basic education credit, because the tax liability is zero.

    I am seeing them maxed out on EIC, and also getting the MWPC, and even the Additional Child Tax Credit. But I had to make some assumptions...

    How many kids? And are the children young enough for the Child Tax Credit?

    I tried with one and two children. They're still getting $1000 AOC.

    Did you forget to check a box?

    Like indicating that the taxpayer is a degree candidate?

    Or that she has not been convicted of a drug offense?

    Have you run your alerts or diagnostics?

    Who is the student? The taxpayer or a dependent child?

    BMK
    Burton M. Koss
    koss@usakoss.net

    ____________________________________
    The map is not the territory...
    and the instruction book is not the process.

    Comment


      #3
      Originally posted by AZ-Tax View Post
      Hmmm.... HOH with $14K AGI. 1098T has $17K box 1, $2675 box 5 & box 8 is checked. Cannot seem to get TP - American Opp credit.
      Are you using ATX? Have to check box on dependents' screen "eligible for education credits" then enter amt on 1040 educational worksheet. Then ck which credit to use.

      Comment

      Working...
      X