Am i eligable for a student college credit?

nyballer1 — Wed, 05 Jun 2019 22:52:45 GMT

There are three federal educational tax benefits for whic...

MaryD — Wed, 05 Jun 2019 22:52:47 GMT

There are three federal educational tax benefits for which a student may qualify. Only one of these may be taken in any given tax year. The American Opportunity Tax Credit and the Lifetime Learning Credit are credits that give you a dollar-for-dollar reduction in your tax. Up to $1,000 of the AOTC may be refundable, if your tax is zero. The least advantageous is the Tuition and Fees Deduction, which is not a dollar-for-dollar credit, but can provide up to $4,000 reduction in your taxable income.

For more information about eligibility for each of these benefits, income phase-out limits, and other requirements, please see IRS Education Benefits Comparison Chart.

topic Am i eligable for a student college credit? in Education

Am i eligable for a student college credit?

There are three federal educational tax benefits for whic...