How is the Lifetime Learning Credit calculated? i paid $18,968 in tuition and only get a $224 credit. nowhere near the 20%. any idea why?
016644
1 Replies
xmasbaby0
Level 15
Apr 15, 2024 11:34:01 AM
The Lifetime Learning Credit is non-refundable. It is limited to the amount of your tax liability. If your tax owed is down to zero, that is all of the credit you need or get.