The Lifetime Learning Credit is a tax credit available for taxpayers who pay college expenses. This credit is similar to the American Opportunity Credit, but there are some key difference
there are several tax benefits for college students, including: 1) American Opportunity Credit, 2) Lifetime Learning Credit, 3) Deduction for tuition and fees, 4) Deduction for student loan interest
In this part, we’ll talk more about the mechanics of filing your tax return. This includes things such as choosing a filing status and deciding which form to use.