Education Tax Credits
- and Other Tax Benefits for Education -
For more information, click on the program names below:
The American Opportunity Tax Credit is a federal tax credit for college tuition, fees, books, and supplies paid for yourself, your spouse, or a dependent. The credit equals 100% of the first $2000, and 25% of the next $2000 that you paid, up to a maximum of $2500 per year per student. The American Opportunity Tax Credit replaces the Hope Credit for tax years 2009 and 2010.
The Lifetime Learning Credit is a federal tax credit for qualified education expenses paid during the tax year for full or part-time post-secondary education, including undergraduate, graduate, and professional study. The credit equals 20% of the first $10,000 that you paid for all family members, up to a maximum of $2000 per year per family.
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