Lifetime Learning Credit
Certified Financial Planner glossary · Certified Financial Planner
Definition
An education credit available for a broader set of courses with a lower percentage credit and different phaseouts than AOTC.
Lifetime Learning Credit in plain English
A mid-career client takes graduate courses and asks which education credit still helps after the undergraduate years are gone. The Lifetime Learning Credit covers a broader set of courses than AOTC, with a lower percentage credit and its own phaseouts. You cannot double-dip the same expense dollars with AOTC in the same year. When both credits appear in choices, ask whether the student is still inside AOTC's undergraduate window or needs LLC's wider course coverage.
Related Certified Financial Planner terms
Certified Financial Planner practice questions · Certified Financial Planner flashcards · Certified Financial Planner study guide