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.

Go Back