This information is being provided as a service to the student population and is not intended as tax advice. You may wish to consult with a tax professional to discuss your personal situation or view the web site addresses listed on the fact sheet to gather further information. It is not intended as tax advice. Please see your tax advisor for more information. Taxpayer who is claiming the student as a dependent and has paid qualified educational expenses for a student.
Credit is available for as many students who qualify per taxpayer.
Taxpayers claiming students as dependents are entitled to the full credit earned even if they do not pay all the qualified expenses for the student. Students, if they are not claimed as a dependent on another taxpayer's return. The upper limits will be adjusted for inflation after 2001. This tax credit is available for students at any post-secondary educational level, including enrollment in graduate level courses. There is no limit to the number of years in which a Lifetime Learning Credit may be claimed for each student.