Lifetime Learning Tax Credit

Students or their parents can claim a credit of up to $2,000 per federal tax return for out-of-pocket tuition and fees at an eligible school. Students may attend less than half-time and do not need to be pursuing a degree or other recognized educational credential. An eligible school is any college, university, vocational school or other school eligible to participate in federal student financial aid programs. There is no limit on the number of years the credit can be claimed.

Eligibility

You are eligible for the full Lifetime Learning credit if your modified adjusted gross income (AGI) is $43,000 or less if you file an individual tax return or $87,000 or less if you file a joint tax return. The amount of your credit is gradually reduced if your AGI is between $43,000 and $53,000 (individual tax return) or between $87,000 and $107,000 (joint tax return).

Limit

The tax credit is equal to 20 percent of the first $10,000 you spend on tuition and fees for a maximum credit of $2,000 per tax return. You cannot claim the Hope Scholarship tax credit and the Lifetime Learning tax credit in the same year for the same student.

For more information, contact:
Internal Revenue Service (I.R.S.)
Phone: 1.800.829.3676

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