What is the Lifetime Learning Credit, and can I claim the Lifetime Learning Credit?

A credit of up to $2,000 is available for qualified education expenses paid during a year that the American Opportunity Credit or Education Deduction is not claimed for that particular student. The credit is 20% of qualified expenses up to $10,000 (for a total allowable credit of $2,000).

An eligible student can be you, your spouse, or an eligible dependent. The qualified expenses are for all undergraduate and graduate level education. The credit phases out for Married Filing Jointly taxpayers with adjusted gross income between $108,000 and $128,000. For Single, Head of Household, or Qualifying Widow(er) taxpayers, the adjusted gross income phase out is between $54,000 and $64,000.

Deluxe Edition

Includes All Free Features PLUS:

Audit Assist

Protect your taxes with Audit Assist!

Our tax professionals will assist you if you are audited by the IRS. Get the peace of mind that comes from knowing you are covered.

Included with DELUXE...
Find out More!

Free Edition

FREE Federal, FREE e-file

Our online application is designed to be simple and fast. Most returns can be completed within 30 minutes. No software to download. Use any computer that has an internet connection.

© 2002-2015 FreeTaxUSA, a TaxHawk, Inc. owned and operated website - Terms of Use