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gar1976 · 03-17-2004, 07:33 PM

There are two higher education credits.

Hope scholarship credit: Credit of up to $1,500 per student for each of the first two years of post-secondary education. Allows a 100% credit of the first $1,000 of qualified tuition expenses and a 50% credit of the second $1,000 of tuition expenses.

Lifetime learning credit: Equal to 20% of the amount of tuition paid by a taxpayer and is available for the first $10,000.

Reduced by the amount of scholarships received. If you have more questions about this post up and I can answer them for you. You can only take one a year, and the hope you can only take twice. Lifetime you can take forever.

03-17-2004, 07:33 PM	#4 (permalink)
gar1976 Custom User Title Location: Lurking. Under the desk.	There are two higher education credits. Hope scholarship credit: Credit of up to $1,500 per student for each of the first two years of post-secondary education. Allows a 100% credit of the first $1,000 of qualified tuition expenses and a 50% credit of the second $1,000 of tuition expenses. Lifetime learning credit: Equal to 20% of the amount of tuition paid by a taxpayer and is available for the first $10,000. Reduced by the amount of scholarships received. If you have more questions about this post up and I can answer them for you. You can only take one a year, and the hope you can only take twice. Lifetime you can take forever.