#SCALLQUICKHITS — Lifetime Learning Tax Credit Worth Checking
Despite Hurdles, Lifetime Learning Tax Credit Worth the Effort
There’s no guarantee that you qualify for the IRS’s Lifetime Learning Tax Credit, but it’s definitely worth the effort to find out, according to investing gurus at The Motely Fool.
Unlike a deduction, this is up to a $2,000 credit, dollar for dollar, for students attending eligible schools that meet certain requirements, those being:
- The student must be enrolled at an eligible educational institution
- The purpose of enrollment must be to obtain a degree or similar credential, get a job, or improve job skills
- The student must be enrolled for at least one academic period per tax year, which is defined as either a semester, trimester, quarter, or any period of study as determined by the institution in question
Learn more here:
Can I Claim the Lifetime Learning Credit?