LinaJ2020
Expert Alumni

Education

1.  Yes, you may if you meet the requirements.  In order to qualify for the Lifetime Learning credit, you must have made tuition and fee payments to a post-secondary school (after high school) during the year. You can claim the credit for any post-secondary classes you take.  You don't have to be working towards a degree. To see details of eligibility, click here: Lifetime Learning Credit

 

2.  The Lifetime Learning Credit is a nonrefundable credit.  This means you can claim this credit only up to the amount of the overall tax you owe. If you do not have any tax liability, you would not qualify for the credit.  Therefore, if you had tax liability in both 2017 and 2018, this credit is supposed to reduce that. 

 

3.  April 15, 2021 is the last day to file your original 2017 tax return to claim a refund. If you received an extension for the 2017 return then your deadline is October 15, 2021.  For the 2018 tax year, with a filing deadline in April of 2019, the three-year grace period ends April 15, 2022.  To learn more, click here: past years' refund

 

4.  Based on the information provided, what makes you think you do not want to claim it?

 

If you are working towards your bachelor's degree, you might qualify for American Opportunity Tax Credit AOTC.  Note that up to 40 percent of the American Opportunity Credit is refundable, meaning you can actually receive money back if the amount of the credit exceeds your tax liability.  For more information, click here: AOTC

 

 

 

 

 

 

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