My wife and I are both taking graduate-level classes. But we both made 195,000 in 2025; therefore, according to TurboTax, we cannot deduct the 1098-T from our schools because we made over 180,000 in 2025.
So what can we do to reduce tuition at universities? Contribute more to 401(k)? For example, if we both contribute 625 a month? This will add up to the 15,000 a year.
Posted by PointThin2855
3 Comments
How is your 401k related to your tuition, or the exemption from the related credit ?
You can deduct the alimony you’re paying for any previous marriages that ended prior to 2019 👍🏼.
You each made 195k? In that case there is nothing you could do.
Even if you both maxed out your 401k you would still be way above the limit for the lifetime learning credit.
MFJ the limit is 180k, and phaseout begins at 160k.