How does a parent claim a Lifetime Learning Credit for the qualified tuition and related expenses of a dependent child?
The parent may claim the credit on his/her Federal income tax return even if the child files his/her own tax return. When a child is claimed as a dependent on the parent’s return, any qualified tuition and related expenses paid by the child during the year are treated as if the parent had paid them and, therefore, are included in calculating the parent’s Lifetime Learning Credit. A child may not claim a Lifetime Learning Credit on his/her tax return for any year if the child’s parent claims the child as a dependent in that same year. Also, a married taxpayer who does not file a joint return is not eligible to claim the Lifetime Learning Credit.
Related Questions
- May both the parent and a dependent child claim the Hope Scholarship Credit for the childs qualified tuition and related expenses in the same year?
- May an individual claim a Lifetime Learning Credit for paying qualified tuition and related expenses for other family members?
- What does the term qualified tuition and related expenses mean for purposes of the Lifetime Learning Credit?
