There's a separate $2,000 credit if you're in trad...
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mis196
New Member

There's a separate $2,000 credit if you're in tradeschool or take graduate classes I was wondering if someone can help me navigate this?

 
2 Replies
xmasbaby0
Level 15

There's a separate $2,000 credit if you're in tradeschool or take graduate classes I was wondering if someone can help me navigate this?

You seem to be asking about the Lifetime Learning credit.

 

https://ttlc.intuit.com/questions/1901172-what-education-tax-credits-are-available      

https://www.irs.gov/help/ita/am-i-eligible-to-claim-an-education-credit

 

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

 

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.**
Opus 17
Level 15

There's a separate $2,000 credit if you're in tradeschool or take graduate classes I was wondering if someone can help me navigate this?

The Lifetime Learning credit is 20% of tuition, up to $2000 (it is NOT a flat $2000).  You must receive a 1098-T statement from your school.  If the school does not issue a 1098-T, you can't claim the credit.  Enter the 1098-T on the Deductions and Credits page in the Education Expenses section.  

 

The credit also can't be larger than your tax liability for the year; if your income is low enough that you don't owe any income tax, you can't get the credit as an extra refund. 

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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