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Education
If you claimed the lifetime learning credit and you had tax liability last year of $900 and this year of only $100, then this would be the reason you received less this year. This is a nonrefundable credits. This means if you look at 16 of your form 1040, the amount of your credit will not be greater than this number. It is also possible that you had other credits that offset your liability first. If so, if you look at line 24 and this is $0, this would be the reason your Lifetime Learning Credit is not greater than $100.
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‎February 13, 2025
10:23 AM