Lifetime Learning

5 replies
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What are the requirements to use this Lifetime Learning credit? Income or other? Is it on a separate form (8863?) and if I want to file for the credit, do I have to pay extra on Turbo Tax?

Ask the Experts - Extension - Sept 2023

Terri_G

Level 3

Thank you for your question. You can claim the lifetime learning credit if all three of the following requirements are met.
• You pay qualified education expenses of higher education.
• You pay the education expenses for an eligible student.
• The eligible student is either yourself, your spouse, or a dependent you claim on your tax return

The credit is up to $2,000 per return, available for a unlimited number of tax years, available for one or more courses, student doesn't need to be pursuing a degree or other education credential. There is an income limit on modified adjusted gross income (MAGI) of $180,000 if married filing jointly and $90,000 if single, head of household or qualifying surviving spouse. The Lifetime Learning Credit is non-refundable, it is limited to the amount of tax you must pay on your taxable income.

To claim the Lifetime Learning Credit you must file form 8863. Form 8863 is included with the Deluxe version of TurboTax.

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stantonporsche

Level 5

so if my daughter file independently and her W2 made only 8000 for tax year 2023, then she will not get the lifetime learning credit of $2000?

she made $30,000 last year and got a $2000 LLC credit

DaveF1006

Alumni - Intuit

Yes, that is correct because her income is not over the filing threshold of $15,700, which is the standard amount for 2023, for a taxpayer filing single. The lifetime learning credit is a non-refundable credit, which reduces tax liability that emanates from taxable income. your daughter has not taxable income because her earned income does not exceed $15,700.

Since your daughter has no taxable income this year, she will not be eligible for any portion of the Lifetime learning Credit.

@stantonporsche

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xmasbaby0

Level 15

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

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

rschule1

Alumni - Intuit

Hi There:

Here is a great link from Turbo Tax giving detail on lifetime learning credit.

Lifetime Learning

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