turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

acano0587
New Member

Tax Credit for Graduate School

I attended graduate school in 2014 and 2015.  I learned today that there is a tax credit of $2000 for students while in graduate school, but this is not something I ever received.  What step did I miss?  Can I amend previous filings/returns to get these?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
ThomasM
New Member

Tax Credit for Graduate School

You're referring to the Lifetime Learning Credit (LLC).  It's not limited to the first four years of post-secondary education like its larger cousin, The American Opportunity Credit, so you can use it for grad school.

The LLC is a non-refundable credit equal to 20% of qualified education expenses up to $10,000, so the maximum credit is worth $2000.  There's no workload requirement, so you can be full-time or part-time, and it counts for degree or non-degree courses, as well as courses for job-skill improvement.  And there's no limit on the number of years you can claim it.

If you didn't claim it in 2014 & 2015, then you can file amended returns for those years to add the education expenses.  So you haven't lost out on it.

Here's a link to IRS Publication 970 which discusses all aspects of the credit: https://www.irs.gov/pub/irs-pdf/p970.pdf.

Additionally, here's a link to the TurboTax support page for amending returns, which will get you started: https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Return/Amending-Your-Income-Tax-Return/INF120...

  

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question