Lifetime Learning Credit — Get Up to $2,000 for Job Skills or Ongoing Higher Education
What Is It?
The Lifetime Learning Credit is a federal education credit worth up to $2,000 per return for qualified tuition and related expenses.
What Most People Don’t Know
- It is not limited to the first four years of college.
- Job-skill courses can qualify.
- You cannot claim it for the same student in the same year that you claim the American Opportunity Credit.
Frequently Asked Questions
Is this only for undergraduate students?
A: No. IRS Publication 970 says it is available for all years of postsecondary education and for courses to acquire or improve job skills.
What is the maximum credit?
A: IRS Publication 970 lists the maximum as up to $2,000 per return.