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What education tax credits are available?

SOLVEDby TurboTax3687Updated February 07, 2023

Education tax credits can help you with higher education costs by reducing the amount of tax you owe. There are two credits available, the American Opportunity Tax Credit and the Lifetime Learning Credit. We check both of them for you.

You can use the American Opportunity Tax Credit (AOTC) for the first four years of college when working towards a degree.

  • Maximum credit is $2,500 per eligible student
  • Must be enrolled at least half-time for at least one semester during the tax year at an eligible educational institution
  • Up to $1,000 can be refunded to you

There's no limit on the number of years you can use the Lifetime Learning Credit for undergraduate, graduate and professional degree courses, including ones to improve job skills.

  • Maximum credit is $2,000 per tax return
  • Can be used when you're only taking one class at an eligible educational institution
  • You don't need to be working toward a degree
  • None of the credit is refundable


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