 |
The Lifetime Learning Tax Credit is for expenses incurred for any post secondary education. There is no limit on the number of years this credit may be claimed.
|
|
The credit can only be used as an offset for up to 20% of a family member's tuition and fees.
|
|
The tax credit may be taken for post secondary education after the first 2 years, and it applies to undergraduate, graduate, and job related education.
|
|
The maximum yearly credit is $1,000. Beginning in 2003, the maximum will be $2,000. This is the limit per family, not per student.
|
