The American Opportunity and Lifetime Learning credits have different eligibility and expense rules. Scholarships, other assistance, and tax-free education-account distributions can affect the calculation.
A tuition statement is a starting point, not the entire calculation. Review actual payments, required materials, and who is eligible to claim the student.
Your next steps
- Collect Form 1098-T and payment records.
- List scholarships and other assistance.
- Coordinate expenses across education tax benefits.
General education, not individualized tax or legal advice. Illustrations use stated assumptions and do not promise a refund or tax saving.
Make this relevant to your situation.
ML Taxes & Accounting can review your income, records, and goals before you make a tax decision.
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