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Q: May a nonresident alien claim either the Hope or Lifetime Learning Credit?
A: Generally no. There is an exception for certain nonresident aliens who are married to U.S. citizens or resident aliens. Nonresident aliens should consult a U.S. tax advisor to determine whether the exception applies to them.
Q: If I prepaid tuition in 1998 for classes that begin in January 1999, may I use that amount in calculating my credit for 1998?
A: Yes. You may use prepaid qualifying tuition and related expenses for an academic period that begins in the first three months of the following year.
Q: I have three sons: one freshman, one sophomore, and one senior, and a daughter who is a first year medical student. All are claimed as dependents on my tax return. May I claim both the Hope and Lifetime Learning Credits?
A: Yes. You may be eligible to claim the Hope Credit for your son who is a freshman and your son who is a sophomore. The Hope Credit is calculated on a per student basis. You may also be eligible to claim the Lifetime Learning Credit for the combined qualified tuition and related expenses you paid toward your son who is a senior and your daughter who is a first year medical student. Remember, the Lifetime Learning Credit is a per family credit, although you may factor in all amounts paid for qualified tuition and fees for all family members in computing the credit. Therefore, the maximum available Lifetime Learning Credit does not vary with the number of students in the family.
Q: May I claim both the Hope and the Lifetime Learning Credit for my child’s expenses in the same tax year?
A: No. For each year in which a student meets the eligibility requirements for the Hope Credit, the student’s expenses may be used as a basis for either the Hope or the Lifetime Learning Credit, but not both.
Q: Is there a limit to the number of times I may claim the Hope Credit for my child?
A: Yes. The Hope Credit may be claimed in no more than two years for each student.
Q: Is there a limit on how many years a Lifetime Learning Credit may be claimed?
A: No. Unlike the Hope Credit, there is no limit on the number of years in which a Lifetime Learning Credit may be claimed for each student.
Q: May an individual claim a Lifetime Learning Credit for paying qualified tuition and related expenses for other family members?
A: Yes. An individual may claim the credit for his/her own qualified tuition and related expenses and the qualified tuition and related expenses for his/her spouse and other eligible dependents (including children) for whom the dependency exemption is allowed. Generally, a parent may claim the dependency exemption for his/her unmarried child if: (1) the parent supplies more than half of the child’s support for the taxable year, and (2) the child is under age 19 or is a full-time student under the age of 24.
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