Lifetime Learning Credit

[karentemail]

Hello Intuit Community:

Appreciate help with 2 questions regarding Lifetime Learning Credit 1) Am I eligible for this in 2021 even I graduated in May 2021? 2) So even I graduated (as attended the school for 1/2 year), however I was at least half times student before graduation (and my 1098-E claims so too), so I qualifies as a full time/at least half time student as the Turbotax placed me in, right? Thank you so much!

[AnnetteB6]

Yes, based on your being a student and having qualified education expenses, you would qualify for the Lifetime Learning Credit as long as your Modified Adjusted Gross Income (MAGI) is within the limits that allow you to claim the credit.  For the Lifetime Learning Credit, you do not have to be a full-time or at least half-time student.  

You may also qualify for the American Opportunity Tax Credit if you had not completed your first four years of higher education as of the beginning of 2021.  

Enter your information into the Education Expense section of your return and TurboTax will recommend which credit is best for your tax situation.