Lifetime learning credit. Can you always get that if you went to school?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

Lifetime learning credit. Can you always get that if you went to school?

 
1 Reply
New Member

Lifetime learning credit. Can you always get that if you went to school?

Yes, but there are conditions.

Yes. You are eligible to claim the Lifetime Learning Credit if all of the following requirements are met:

  • You (or your dependent or a third party) paid qualified education expenses for higher education.
  • You paid the education expenses for an eligible student.
  • The eligible student is you, your spouse, or a dependent you claim an exemption for on your tax return.
  • Your modified adjusted gross income is less than $67,000($134,000 if you are married filing jointly).
  • The credit is reduced between $57,000 and $67,000 ($114,000 and $134,000 MFJ).

To qualify, students must attend an eligible institution. Almost all accredited public, nonprofit and for-profit postsecondary schools (including many trade schools) fit this description. To make sure a school is eligible, go to fafsa.gov and verify that it has a Federal School Code.

https://www.irs.gov/credits-deductions/individuals/llc


Dynamic Ads
v
Privacy Settings