Could an educational tax credit save you $2,500 this year?

December 14, 2015 4:39 PM

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If you're one of the many taxpayers who are pursuing a college degree or other post secondary degree, or if you have a child or spouse doing so, there are two credits that could save you a bundle: the American Opportunity Tax Credit and the Lifetime Learning Credit.

You must also be a U.S. citizen or resident alien for the entire tax year that you're claiming for, and if you're married, your spouse needs to meet the same requirements. You cannot claim these credits if you're married filing separately. If you are claiming for a child, they must be listed as a de...

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