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?

posted

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.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**