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March 18, 2021
Question

Lifetime Learning Credit

  • March 18, 2021
  • 1 reply
  • 0 views

Hello,

 

I did not work in 2020 so I have no income to report. However, I was in school and have a 1098-T as well as some dividends from investments. Do I qualify for the Lifetime learning credit? 

    1 reply

    CatinaT1
    March 18, 2021

    This is a non-refundable credit so you would have to have tax liability to receive any benefit from this credit.

     

    Do you qualify for the American Opportunity Tax Credit?  There is a refundable portion of this credit.

     

    To be eligible for AOTC, the student must: 

    • Be pursuing a degree or other recognized education credential 

    • Be enrolled at least half time for at least one academic period

    • Not have finished the first four years of higher education at the beginning of the tax year 

    • Not have claimed the AOTC or the former Hope credit for more than four tax years 

    • Not have a felony drug conviction at the end of the tax year 

     

    More information can be found here: 

    Education Credits 

    American Opportunity Credit 

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