Turbotax Deluxe Desktop 2022 indicates that my son qualifies for a Lifetime Learning Credit, but the Turbotax On Demand Tax Guidance gives incorrect information re: qualifications for the credit. According to the Tax Guidance, "The lifetime learning credit is available for, among other criteria, "Students who are not pursuing a degree, certificate or credential."
My son is pursuing a Master's Degree in Counseling, and according to the IRS.gov website, a student is eligible for the LLC if they are "taking higher education course or courses to get a degree or other recognized education credential or to get or improve job skills."
Please correct the On Demand Tax Guidance for the LLC!!!
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Yes, the On Demand Tax Guidance is correct.
IRS Publication 970 says:
"Student doesn't need to be pursuing a program leading to a degree or other recognized education credential."
Click here to see the applicable section of Publication 970.
Julie, you misunderstood my message. The On Demand Tax Guidance indicates that a student cannot be in a degree program in order to qualify for the LLC.
I guess I should clarify that the "On Demand Tax Guidance" implies that a student in a degree program does NOT qualify for the LLC.
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