Questions & Answers

Are there income limitations for being able to claim the American Opportunity Credit, Lifetime Learning Credit, or Education Deduction?

The American Opportunity Credit phases out for Married Filing Jointly taxpayers with an adjusted gross income between $160,000 and $180,000. For Single, Head of Household or Qualifying Widow(er) taxpayers, the adjusted gross income phase out is between $80,000 and $90,000.

Lifetime Learning Credits phase out for Married Filing Jointly taxpayers with an adjusted gross income between $114,000 and $134,000. For Single, Head of Household or Qualifying Widow(er) taxpayers, the adjusted gross income phase out is between $57,000 and $67,000.

The Education Deduction cannot be taken if your modified adjusted gross income is more than $80,000 ($160,000 if Married).

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