The lifetime learning credit is different from the American opportunity credit. However, they do share some of the same requirements. Which of the following requirements is true for both education credits?
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There is no limit to the number of years the credits can be claimed |
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Expenses related to noncredit courses are allowed as qualified education expenses |
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The credit is available for only the first four years of postsecondary education |
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To be eligible for either of the education credits, taxpayers must use any filing status other than Married Filing Separately |
