💨 Abstract

The Lifetime Learning Credit is a tax break for education expenses at any point in life, including undergraduate or graduate school costs, and professional development classes. It's worth up to $2,000 per tax return and is available for unlimited years. To claim it, one must pay qualified education expenses at an eligible institution, incur expenses for the student attending the program (taxpayer, spouse, or dependent), and have an income below the cutoff.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖