- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have a client who took classes at Armored Trucking Academy, LLC. He paid $5,000.00 for this tuition. Is he entitled to a Lifetime learning credit? This was to improve his job skills. Do I have to have a 1098T and if not do I have to have the Academy's Federal ID number?
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Is it an eligible institution?
Who can claim the LLC?
To claim the LLC, you must meet all three of the following:
- You, your dependent or a third party pay qualified education expenses for higher education.
- You, your dependent or a third party pay the education expenses for an eligible student enrolled at an eligible educational institution.
- The eligible student is yourself, your spouse or a dependent you listed on your tax return.
https://www.irs.gov/credits-deductions/individuals/llc
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
When I first read your reply, I thought LLC referred to the truckdriving school, not the Lifetime Learning Credit. And that was even after my morning cup of coffee, which I didn't drink until this afternoon. Here is the IRS definition of an eligible institution:
An eligible educational institution is a school offering higher education beyond high school. It is any college, university, trade school, or other post-secondary educational institution eligible to participate in a student aid program run by the U.S. Department of Education.
This includes most accredited public, nonprofit and privately-owned–for-profit postsecondary institutions.
If you aren't sure if your school is an eligible educational institution:
- Check to see if the school issued a Form 1098-T, Tuition Statement. Eligible educational institutions are required to issue students Form 1098-T, Tuition Statement (some exceptions apply).
- Ask your school if it is an eligible educational institution, or
- See if your school is on the U.S. Department of Education's Database of Accredited Post Secondary Institutions and Programs (DAPIP) or the Federal Student Loan Program list.