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Lifetime Learning Credit

Menu Path: Deductions/Credits > Common Deductions/Credits > College Tuition (Form 1098-T)

Enter the education expenses for you, your spouse, and your dependents on the College Tuition Expenses (Form 1098-T) screens. We'll automatically calculate which education credit or deduction gives you the largest refund.

If you qualify for the American Opportunity Credit, you'll almost always get a larger refund using that credit. If you don't qualify for the American Opportunity Credit, the Lifetime Learning Credit is often the next best choice.

The Lifetime Learning Credit is a credit of up to $2,000 per student. The credit is 20% of any tuition or class fees paid up to $10,000 (for a total allowable credit of $2,000). Books, supplies, and equipment are only eligible expenses if they are required to be paid to the institution as a condition of enrollment or attendance. The credit phases out for married taxpayers with adjusted gross income between $114,000 and $134,000. For single taxpayers and others not filing a joint tax return, the adjusted gross income phase out is between $57,000 and $67,000. If your income is too high to take the Lifetime Learning Credit you may still be eligible to claim the education deduction (see Education Expenses).

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