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February 6, 2021
Question

What is the Lifetime Learning Credit?

  • February 6, 2021
  • 1 reply
  • 0 views
I do not want to upgrade, but I am forced to.

1 reply

Hal_Al
Employee
February 6, 2021

It's a non-refundable  tuition/education credit.  That is, it can only be used to reduce your tax liability.  It is not added to your refund.

 

TurboTax also has another free product called the Free File Edition (not to be confused with the regular Free Edition).  It has free Federal preparation and free State preparation. There is no efiling fee. It is not available after October 15

The Free file Edition can handle a 1099-MISC.

The Free file Edition is more fully-featured than the regular Free Edition.  The Free File Edition can prepare Schedule A, C, D, E, and F that the Free Edition cannot. 

To qualify for free 2020 federal and state tax returns through the IRS Free File Program delivered by TurboTax, you just need to meet one of these requirements:

  • Your 2020 household AGI is $39,000 or less;
  • You qualify for the Earned Income Tax Credit (EITC); or
  • In 2020, you served as active duty military (including Reservists and National Guard) with a maximum AGI of $72,000, and you have a military-issued W-2.


The FREE FILE Edition is located at:
https://turbotax.intuit.com/taxfreedom

How to switch and start over in Free file Edition
https://ttlc.intuit.com/questions/2026912-how-do-i-switch-to-turbotax-freedom-edition