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  1. Aug 20, 2024 · Find out if you are eligible for the Lifetime Learning Credit or other tax benefits for education. The lifetime learning credit (LLC) is for qualified tuition and related expenses paid for eligible students enrolled in an eligible educational institution.

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  3. Feb 1, 2024 · Form 8863 is used by individuals to figure and claim education credits (Hope Credit, Lifetime Learning Credit, etc.). Use Form 8863 to figure and claim your education credits, which are based on qualified education expenses paid to an eligible postsecondary educational institution.

  4. Department of the Treasury Internal Revenue Service. Education Credits (American Opportunity and Lifetime Learning Credits) Attach to Form 1040 or 1040-SR. Go to www.irs.gov/Form8863 for instructions and the latest information. OMB No. 1545-0074. Form 8863.

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  5. Use Form 8863 to figure and claim your education credits, which are based on adjusted qualified education expenses paid to an eligible educational institution (postsecondary). For 2023, there are two education credits. The American opportunity credit, part of which may be refundable.

  6. The Lifetime Learning Credit can provide you with a credit of up to $2,000 for qualified educational expenses. To compute the amount of your Lifetime Learning Credit, enter the name, Social Security number, and qualified expenses of each applicable student on IRS Form 8863.

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  7. To claim the AOTC or LLC, use Form 8863, Education Credits (American Opportunity and Lifetime Learning Credits). Additionally, if you claim the AOTC, the law requires you to include the school’s Employer Identification Number on this form.

  8. Aug 20, 2024 · For the Lifetime Learning Credit, you can qualify if you take the course to acquire or improve your job skills. Academic period. You must pay the qualified education expenses for an academic period that starts during the tax year or the first three months of the next tax year.

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