The Lifetime Learning Credit is a nonrefundable credit up to $2000 (20% of $10,000 expenses) for tuition, books, fees, supplies and equipment required for enrollment or attendance and must be paid to an eligible educational institution.
- The student must be the taxpayer, spouse, or dependent.
- The credit is available for unlimited years for graduate and undergraduate college (degree and non-degree).
- The credit may be phased out at higher income levels.