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January 29, 2021
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Why is my lifetime learning credit showing up as 0$, I am a 24 year old grad student with a very low income and 40000$ in tuition? it seems like I should qualify for 2k

  • January 29, 2021
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Best answer by Hal_Al

The lifetime Learning Credit (LLC) is a non refundable credit (unlike the American Opportunity Credit for undergrads).  It can only be used to reduce your tax liability. If you have very low income, you probably have no tax liability

 

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Hal_Al
Hal_AlAnswer
Employee
January 29, 2021

The lifetime Learning Credit (LLC) is a non refundable credit (unlike the American Opportunity Credit for undergrads).  It can only be used to reduce your tax liability. If you have very low income, you probably have no tax liability