United States Lifetime Learning Credit (LLC)

What is the Lifetime Learning Credit ?

The Lifetime Learning Tax Credit (LLC) is a federal income tax credit for the expenses of qualified post-secondary schools and qualified tuition.

How the Lifetime Learning Credit Works ?

The LLC is a tax credit used to offset the cost of tuition and related expenses. You cannot claim for each student, there is a $10,000 collective cap. There is no limit to the number of years for which you can claim the credit.

Who is Eligible for Lifetime Learning Credit ?

You, a third party, or your dependents pay qualified education expenses for higher education. The taxpayer, their spouse or dependent child pays education expenses for an eligible student enrolled in an eligible educational institution.


What are the Income Limits for Lifetime Learning Credit ?

To claim the credit for tax year 2022, a taxpayer must have a modified adjusted gross income of $80,000 or less if they file as an individual. Taxpayers must have an income of $160,000 or less if filing jointly.

How Much is Lifetime Learning Credit Worth ?

The lifetime learning credit amount is 20% of the first $10,000 of eligible education expenses, or a maximum of $2,000 per return. LLC is not refundable.

How to Calculate the Lifetime Learning Credit Amount ?

To calculate the amount of the LLC, enter the applicable student name, eligible expenses, and Social Security number. Enter your actual expenses or $10,000, whichever is less, then multiply this number by 20%.

How to Claim the Lifetime Learning Credit ?

To claim LLC, taxpayers must complete and submit Form 8863 with their federal income tax return.