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Is it possible to claim the Tuition and Fees Deduction in place of the Lifetime Learning Credit if I think I would get a greater refund?
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Yes. Type> letme <in the search box and it will take to the screen to do that. The amount of the Lifetime Learning Credit (LLC) will show on line 3 of Schedule 3 and is a maximum of $2000.
Tuition and Fees Deduction (TFD) is not a credit (reduction of tax ), but only a deduction from income before tax is calculated. So, typically, you save $4000 times your marginal tax rate; e.g. 4000 x 12% = $480
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