Why am I not receiving the Lifetime learning credit? How long do I need to be a taxpayer (have a job) to be eligible in the year?
I received the American opportunity credit for 4 years on undergrad. Im currently in grad school full time and thought I should be eligible for the lifetime learning credit.
Why am I not receiving the Lifetime learning credit? How long do I need to be a taxpayer (have a job) to be eligible in the year?
The Lifetime learning credit (LLC) is non refundable. It can only be used to reduce an actual tax liability. So, the simple answer to your question is: most people don't start paying tax until they have $13,850 of income.
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