My daughter is graduating from college in May 2017. I paid her tuition. Can I let her claim the lifetime learning credit?

Yes. If your income is too high to allow you to benefit from the credit, you can let your child use it. To do this, you must forego the dependency exemption you would otherwise have claimed for her.

Tags: education, lifetime learning credit

Ask JK

Most Popular

Ask JK

Advanced

Is income averaging still available? 25k views
Where do I report income from my corporation on Form 1040? 12.5k views
I paid a convenience fee when I charged my property taxes. Can I deduct this fee? 7.7k views
I sold some municipal bonds at a loss. Can I deduct the loss? 7.2k views

Featured Books

JK Lasser's New Rules for Estate, Retirement, and Tax Planning, 6th Edition

Stewart H. Welch, III, J. Winston Busby

$27.95

Learn more

View all books Next Book

Tax Glossary

Exemption

A fixed deduction allowed to every taxpayer, except those who may be claimed as a dependent by another person. Extra exemption deductions are allowed for a spouse on a joint return and for each qualifying dependent. A deduction of $3,400 is allowed for each exemption claimed on 2007 returns, but the deduction is phased out for certain high income individuals.

More terms Next Term