$2,500 College Educational Tuition Tax Credit American Opportunity Credit vs Life Learning Credit

This video helps answer: Am I Eligible to Claim an Education Credit? If the AOC or LLC credit reduces your tax to less than zero, you may get a refund. These two education credits available: the American opportunity tax credit (AOTC) and the lifetime learning credit (LLC). Don’t overlook these important credits as tax credits are typically better than tax deductions.

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IRS Explains Education Credits--AOTC and LLC

IRS EDUCATION TAX CREDIT INFORMATION
AMERICAN OPPORTUNITY CREDIT
LIFETIME LEARNING CREDIT

FORM 8863 Education Credits (American Opportunity and Lifetime Learning Credits)

SCHEDULE 3 (FORM 1040)

FORM 1040

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[orlandocolon]

Thanks to your video, I can now file Form 1098-T as a first-time parent filer. Excellent explanation!

[bucksutherland]

JJ, I made/saved A LOT of money from your channel... Always good advice.

[tomliu]

I really like your style get down to the point. The gauge portion on line 29 of part 3 of 8863 is unbearable. You gave us the clue use this number that figure out nonrefundable portion credits. The refundable $1000 is automatically filled in 1040. Just feel clueless why schedule 3 and line 3 gets involved. Wish the 8863 line 29 direct interface with 1040 without schedule 3. Thank you very very much. This is a tricky and tough one

[awesomealdi]

So i was originally in a 5 year program that started in fall 2017. The 5 year program requires that i take a co-op rotation for three semesters in order to graduate. I was not able to get a co-op program during those 5 years and in order to graduate in time (May 2022), they moved me from the 5 year co-op program to the 4 year standard program. Will i still qualify for the AOTC?

[aaroncortez]

Do loans affect your MAGI? We fall under the $180k line but the loan puts us over. With three kids in college, the tax credits would help a ton. Thanks.

[Treydaveraw]

JJ, I graduated college 2 years ago and didn’t claim any of the student tax credit while I was in school…..can I still apply for the AOTC even if I have graduated college

[msbutterfly]

My daughter went to one university and got her 4 year degree, now she is attending a community college to get her 4 year degree there can she claim the credit as a "first" four year degree being they are different institutions?

[Squanchly]

Can someone with a two year degree still access this if they’re in their fourth year of college without a bachelors?

[ParthPatel-lppq]

Are international students pursuing master's eligible for this?

[krazykoala]

Can you claim this credit if your education tuition was fully paid by your employer?