Yes, you may still claim the the Lifetime Learning Credit if you meet the other IRS requirement below.
You may not be eligible to claim the American Opportunity credit if the school is not an accredited school.
The Credit is generally better than the education deduction . TurboTax will help you figure out the best option.
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 $65,000($131,000 if you are married filing jointly).
- The credit is reduced between $55,000
and $65,000 ($111,000 and $131,000).
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.
