Higher Education

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Disallowed “Double-Dipping” in Education Tax Benefits

The IRS disallows “double-dipping,” which means utilizing more than one tax benefit on the same expenditure. For example, a taxpayer cannot take both the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC) for themselves, or for the same dependent, in the same tax year. Also, for example,…

June 6, 2019