What are the Hope and Lifetime Learning tax credits?
In 1997, the Taxpayer Relief Act established two education tax credits and a deduction for student loan interest. These credits are explained in detail in Publication 970 from the IRS. Note: Just because you receive a 1098-T does not automatically mean you qualify for a credit. If you have questions about how to compute your education tax credit, you should consult your tax professional or refer to the IRS.
