topic Lifetime Learning Credit in Education

Lifetime Learning Credit

karcher814 — Sun, 16 Feb 2025 22:34:06 GMT

I am a fulltime graduate student who is employed as teaching assistant. I received a W2 and had taxable income. When I go to the student section, it says I am not eligible to receive an education tax credit but only mentions the American Opportunity and not the Lifetime Learning Credit. I should be eligible for it.

Re: Lifetime Learning Credit

KrisD15 — Sun, 16 Feb 2025 23:04:42 GMT

To clarify, did you enter education expenses and go through the entire education interview?

Also, do you have a tax liability? The Lifetime Learning Credit would not be an option unless you had tax liability to which the credit could be applied.

Re: Lifetime Learning Credit

xmasbaby0 — Sun, 16 Feb 2025 23:06:14 GMT

You cannot get the American Opportunity Tax Credit if you are a grad student, but you might get the Lifetime Learning Credit. However, the LLC is NON-refundable. It can only be used to reduce your tax liability. If you do not have a tax liability, the credit does not do anything for you.

LIFETIME LEARNING CREDIT

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/expenses-qualify-lifetime-learning-credit/L7cpyQLrJ_US_en_US?uid=m6eg46im

https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-lifetime-learning-credit/00/26844

https://ttlc.intuit.com/questions/3262984-who-is-eligible-for-the-lifetime-learning-credit

Re: Lifetime Learning Credit

Hal_Al — Sun, 16 Feb 2025 23:39:31 GMT

You received a W2 and had taxable income. But if that income was less than $14,600, you do not have a tax liability to offset with the LLC.