Lifetime Learning Credit

College Tuition and Room and Board

Answer:

Qualified educational expenses would include tuition and required fees, but would Not include room and board, insurance, transportation or other personal living or family expenses, medical expenses, supplies or equipment.
The credits are subject to income limitations. The credits are not available for married filing separate returns.
Both credits are claimed on IRS Form 8863.
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Answer Provided by: CPAdirectory

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