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Claiming The Lifetime Learning Credit

The lifetime learning credit is another valuable educational tax credit that can be claimed to offset college expenses. You can claim the lifetime learning credit for qualified tuition and related expenses paid for yourself, your spouse, and any dependent on your tax return who is enrolled at any accredited college, university, vocational school, or other accredited post-secondary educational institution. As its name implies, there is no limit for the number of years for which the lifetime learning credit can be claimed for any student.

Please note, however, that unlike the American opportunity credit:

• The lifetime learning credit is not based on the student’s workload. It is allowed for one or more courses. Read more

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