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 $66,000($132,000 if you are married filing jointly).
- The credit is reduced between $56,000 and $66,000 ($112,000 and $132,000).
One of the advantages of the Lifetime Learning Credit is that you can
take the credit every year for higher education as long as you meet the
qualifying requirements.
