Education tax credits
You may be able to claim a tax credit against your federal income tax for qualified tuition and related expenses.
- Hope Credit
The Hope Credit is a tax credit for students in their first two years of college. It provides a tax credit of up to $1,650 on the first $2,200 of college tuition and fees. You can claim the Hope Credit on your tax return if you, your spouse, or your dependent is a first-year or second-year college student, is enrolled at least half-time at an eligible education institution, and you were responsible for paying college expenses. - Lifetime Learning Credit
The Lifetime Learning Credit is a tax credit for any person who takes college classes. It provides a tax credit of up to $2,000 on the first $10,000 of college tuition and fees. You can claim the Lifetime Learning Credit on your tax return if you, your spouse, or your dependent is enrolled at an eligible educational institution and you were responsible for paying college expenses. Unlike the Hope Credit, you need not be enrolled at least half-time. Even if you took only one class, you may take advantage of the Lifetime Learning Credit.
