Q. What is the hope credit? is it the same as lifetime learning credit?
A. No. It's the "same" as the American Opportunity Credit (AOTC).
The Hope Credit no longer exists. The AOTC is the new and improved Hope credit. The specific thing that you need to know about the Hope Credit is: the times it was claimed in the past, count towards the four times limit on how many times you can claim the AOTC. The Hope Credit existed 1998 to 2008. So, that issue doesn't come up very often. Mostly adults going back to school might have to check with their parents to see if they claimed it way back when you were first in college.
No, it isn't the same as The Lifetime Learning Credit. The Hope Credit is now called The American Opportunity Credit.
Refer to the TurboTax Help articles Bigger, Better College Tax Credit and What Are Education Tax Credits? for more information.
Q. What is the hope credit? is it the same as lifetime learning credit?
A. No. It's the "same" as the American Opportunity Credit (AOTC).
The Hope Credit no longer exists. The AOTC is the new and improved Hope credit. The specific thing that you need to know about the Hope Credit is: the times it was claimed in the past, count towards the four times limit on how many times you can claim the AOTC. The Hope Credit existed 1998 to 2008. So, that issue doesn't come up very often. Mostly adults going back to school might have to check with their parents to see if they claimed it way back when you were first in college.