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Ask A CPA - Lifetime Learning Credit

Lifetime Learning Credit - Carry Forward

Any unused Lifetime Learning credit cannot be carried forward to future years. The phase out for: married taxpayers is Adjusted Gross Income between $107,000-$127,000. ($104,000-$124,000 in 2012). single, head of household or qualifying widower(s) filing status taxpayers phase out is between $53,000 and $63,000. Married filing separately status are not allowed a Lifetime Learning credit.

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