Does high % of income deferral effect EFC under CSS/ PROFILE

parentsofsboys
Fri, 30 Nov 2018 17:17:06 +0000

Thanks BelknapPoint. Are there any income level thresholds or phase outs for the full $2,500 AOTC? In general does it work along the lines of if one had exactly $2,500 in Federal tax due and qualified for AOTC they would pay $0 Federal tax after the credit? Under another scenario, if one had $1,500 in Federal tax due, the credit would result in a $1,000 refund? I realize I should just read the IRS rules here.