Submitted By: Chuck
Answered: December 16, 2016 1:00 pm

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.

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Tax Glossary

Lump-sum distribution

Payments within one tax year of the entire amount due to a participant in a qualified retirement plan. Qualifying lump sums may be directly rolled over tax free, or, in some cases, are eligible for current tax under a favorable averaging method.

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