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Deductions & credits
You cannot get both of them for the same student----you get one or the other. The AOC is the one that has a refundable portion. The Lifetime Learning Credit can reduce tax owed.
**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.**
‎June 24, 2021
12:17 PM