Students will soon be heading off to college or trade school. Higher education is expensive, but taxpayers who take post-high school coursework in 2024 (or who have dependents taking such courses) may qualify for one of two tax credits that can reduce their tax bills. The Lifetime Learning Credit tops out at $2,000 per tax return for any number of years. The American Opportunity Tax Credit is worth up to $2,500 per eligible student for the first four years at an eligible school in pursuit of a degree or other recognized education credential. But an income-based phaseout could reduce or eliminate your tax benefit. Additional limits and rules apply. For more information: https://bit.ly/3QoUiJ2
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