Found 13 Matching Items; Displaying 1 - 10.
LLC
Do you pay higher education expenses? Find out if you are eligible for the Lifetime Learning Credit or other tax benefits for education.
General Information
Individuals
Education credits: Questions and answers
Find answers to common questions about the education credits, including the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC).
General Information
Individuals
AOTC
Learn how the American Opportunity Tax Credit (AOTC) can help pay up to $2,500 for tuition and other qualifying expenses per student each year on your tax return during the first four years of higher education.
General Information
Individuals
Education credits - AOTC and LLC
Education credits like the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC) can help with the cost of higher education. See if you qualify.
General Information
Individuals
Eligible educational inst
Find out what is an Eligible Educational Institution to qualify for the education credits.
General Information
Individuals
Education benefits - No double benefits allowed
You can’t take more than one education benefit for the same student and the same expenses. So, you can't take the American opportunity tax credit and lifetime learning credit for the same student in the same tax year. Also, if you receive tax-free educational assistance, such as a grant, you need to subtract that amount from your qualified education expenses.
General Information
Individuals
Understanding your CP03 notice
Our records show you already claimed the American Opportunity Tax Credit (AOTC) on Form 8863 of your 2023 tax return for the same student for the four years allowed.
General Information
Individuals
Understanding your CP03B notice
Our records show you already claimed the American Opportunity Tax Credit (AOTC) on Form 8863 of your 2023 tax return for the same student for the four years allowed.
General Information
Individuals
Understanding your CP03A notice
Our records show you already claimed the American Opportunity Tax Credit (AOTC) on Form 8863 of your 2023 tax return for the same student for the four years allowed.
General Information
Individuals
College students should study up on these two tax credits
IRS Tax Tip 2022-123, August 11, 2022 — Anyone pursuing higher education, including specialized job training and grad school, knows it can be pricey. Eligible taxpayers who paid higher education costs for themselves, their spouse or dependents in 2021 may be able to take advantage of two education tax credits.
General Information
Individuals, Students