Education Tax Credits

You may be able to claim a tax credit against your federal income tax for qualified tuition and related expenses. For more detailed information, see IRS Publication 970: Tax Benefits for Education.

American Opportunity Credit

The American Opportunity Credit is a tax credit for qualified education expenses paid for an eligible student, of up to $2,500 per eligible student. The student may be yourself, your spouse, or your dependent(s).  If you take this credit, you may not also claim the Lifetime Learning Credit (as described below).

Lifetime Learning Credit

The Lifetime Learning Credit is a tax credit for any person who takes college classes. It provides a tax credit of up to $2,000 on the first $10,000 of college tuition and fees. You can claim the Lifetime Learning Credit on your tax return if you, your spouse, or your dependent is enrolled at an eligible educational institution and you were responsible for paying college expenses. You need not be enrolled at least half-time. Even if you took only one class, you may take advantage of the Lifetime Learning Credit.