American Opportunity Tax Credit
The American Opportunity Credit provides up to $2,500 per student for qualified education expenses. It is partially refundable, which can help taxpayers even if their liability is low.
Lifetime Learning Credit Basics
The Lifetime Learning Credit is available for a wider range of education expenses and does not require a degree program. It can be helpful for continuing education or professional development.
Qualifying Expenses and Limits
Tuition, fees, and required course materials may qualify for education credits. Make sure the school and program meet IRS requirements before claiming the credit.
How Credits Differ from Deductions
Tax credits reduce your tax bill dollar-for-dollar, while deductions lower your taxable income. Education credits are often more valuable than deductions when you qualify.
Using the Calculator to Compare Benefits
Our tax tools let you estimate whether an education credit or deduction provides the better outcome for your situation.