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Susie Peterson (29) spent $2,900 for tuition and required course fees to complete two college courses during the year. Susie cannot be claimed as a dependent on anyone else's return, and she will use the single filing status. She is not a degree candidate, nor was she a full-time student. However, the courses she took were job-related. Her 2021 modified adjusted gross income was $55,000. Given the information provided, Susie potentially qualifies for which of the following tax benefits for education?
American Opportunity Tax Credit.
Lifetime learning credit.
Qualified tuition program.
Sallie Mae student loan

Respuesta :

Martebi

Given the information provided, Susie potentially qualifies for option B: Lifetime learning credit.

What is Lifetime learning credit?

The cost of tuition and associated costs can be reduced by using the Lifetime Learning Benefit (LLC), a tax credit. It can aid qualified students in covering the costs of undergraduate, graduate, and professional degree programs, as well as courses taken to acquire or enhance job skills. The number of years you can use the credit is unlimited. Per tax return, the credit is worth up to $2,000

Therefore, For qualified tuition and associated costs for eligible students enrolled in an eligible educational institution, the lifetime learning credit (LLC) is paid. This credit can be used to offset the cost of undergraduate, graduate, and professional degree programs, as well as programs to develop or enhance employment skills.

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