Guideline: Determine eligibility for available tax credits and complete an official worksheet for each credit, to demonstrate eligibility. Limits on modified adjusted gross income (MAGI).
Determine eligibility for available tax credits and complete an official worksheet
Determine eligibility for available tax credits and complete an official worksheet for each credit, to demonstrate eligibility.
Limits on modified adjusted gross income (MAGI).
The lifetime learning credit MAGI limit increases to $138,000 if you’re married filing jointly ($69,000 if you’re filing single, head of household, or qualifying widow(er)). The American opportunity credit MAGI limits remain unchanged. See Table 1 and the instructions for line 3 or line 14.
Form 1098-T requirement.
to be eligible to claim the American opportunity credit or the lifetime learning credit, the law requires a taxpayer (or a dependent) to have received Form 1098-T,
Tuition Statement, from an eligible educational institution, whether domestic or foreign.
However, you may claim one of these education benefits if the student doesn’t receive a Form 1098-T because the student’s educational institution isn’t require d to furnish a Form 1098-T to the student under existing rules
(for example, if the student is a qualified nonresident alien, has certain qualifie d education expenses paid entirely with scholarships,
has certain qualified education expenses paid under a formal billing arrangement,
or is enroll ed only in courses for which no academic credit is awarde d).
Lastly, if a student’s educational institution isn’t requir ed to provide a Form 1098-T to the
student, you may claim one of these education benefits without a Form 1098-T if you otherwise qualify,
can demonstrate that you (or a dependent) were enrolled at an eligible educational institution, and can substantiate the payment of qualified tuition and related expenses.
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