Education Essentials
Credits
- American Opportunity Act Credit
- Maximum of four times per student lifetime.
- Undergraduate only, with no previous four-year degrees.
- Must attend at least half time.
- Must be pursuing degree or other credential from accredited school.
- See American Opportunity page.
- Lifetime Learning Credit
- May take any number of times.
- Need not be pursuing degree or other credential.
- Must be an accredited Institution.
- Must be courses to acquire or improve job skills.
- See Lifetime Learning page.
Unrestricted Scholarships
- Scholarships and grants used to pay for tuition, fees, and course-related expenses are
non-taxable.
- Taxable amounts are reported as Other Income.
- Will appear on Schedule 1 Line 8r
- Unearned for most purposes but is considered earned for determining filing requirement.
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