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Education Credits and Tax Benefits


Which educational expenses qualify for the education credits? Tuition you paid for yourself, your spouse or a dependent to attend an eligible educational institution in 2023 should qualify. The amount of credit for the American Opportunity or Lifetime learning credits may be reduced depending on your adjusted gross income.


The Tax Credit and Jobs Act made no changes to:

  • the American opportunity credit (AOC).

  • the Lifetime learning credit.

This credit can be claimed for the first four years of college, and could be as high as $2,500 per year.


The term "qualified tuition and related expenses" includes "course materials," which means could include books, supplies and other equipment.


The tax credit is based on 100 percent of the first $2,000 of tuition, fees and course materials and 25 percent of the next $2,000.


For more information click on the following link:


American Opportunity Tax Credit




            The Lifetime

             Learning Credit



The lifetime learning credit gives a credit of 20% of qualified educational expenses not exceeding $10,000, for a maximum credit of $2,000.

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