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April 15, 2024
Question

How is the Lifetime Learning Credit calculated? i paid $18,968 in tuition and only get a $224 credit. nowhere near the 20%. any idea why?

  • April 15, 2024
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1 reply

Employee
April 15, 2024

The Lifetime Learning Credit is non-refundable.   It is limited to the amount of your tax liability.  If your tax owed is down to zero, that is all of the credit you need or get.

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