can someone explain the college tax credit?

Paying for College
1

<p>We are trying to figure out if we qualify for the credit. Can someone post the max income for a married couple filling jointly and if there any reasons we would not qualify if we make less than that amount? Also can we qualify if the student lives at home and commutes? </p>

<p>Thanks</p>

2

<p>There is more than one education tax credit. All the information you seek should be here:</p>

<p><a href=“http://www.irs.gov/pub/irs-pdf/p970.pdf”>http://www.irs.gov/pub/irs-pdf/p970.pdf&lt;/a&gt;&lt;/p&gt;

3

<p><a href=“Publication 970 (2022), Tax Benefits for Education | Internal Revenue Service”>Publication 970 (2022), Tax Benefits for Education | Internal Revenue Service;

<p>Here’s a link to the IRS explanation. Basically, you cannot claim the AOC if you make over $180,000 but it phases out between $160K and $180K</p>

<p>And yes, you cannot claim the credit even if you make less than that for various reasons. The student must be your dependent, and a full time student leading to a degree program at a qualified institution. If you have no tax liability, then you would only get the refundable portion. You do qualify if the student lives at home and commutes. Room and board are not even qualified expenses for this credit. Only qualified tuition and fees.</p>