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January 29, 2024
Question

How do I use my lifetime learning credit?I am a grad student and my tuition was 65 k

  • January 29, 2024
  • 1 reply
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1 reply

Hal_Al
Employee
January 29, 2024

Only $10K of tuition can be used for the  lifetime learning credit (LLC).  The LLC is non refundable, that is it can only offset an actual tax liability.  The maximum credit is $2000. 

If you are a dependent, it is better if your parents claim it, rather than you.

 

In TurboTax (TT), enter at:

Federal Taxes Tab (Personal for H&B version)

Deductions & Credits

-Scroll down to:

--Education

  --Education Expenses and Scholarships

You must have a 1098-T