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Which Of The Following Statements Is True Regarding The Education Tax Credits?

a. the lifetime learning credit is available for qualifying tuition and related expenses incurred by students pursuing only graduate degrees b. the American Opportunity credit permits a maximum credit of 20% of qualified expenses up to $10k per year c. The American Opportunity credit is calculated per taxpayer, while the lifetime learning credit is available per eligible student d. continuing education expenses do not qualify for either education credit e. none of the above statement is true
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E. None of the statement is true. Choice A is incorrect since the lifetime learning credit is available for individuals who are beyond the first two years of post-secondary education. Choice B reflects the computation of the lifetime learning credit, not the American Opportunity scholarship credit. The exact opposite of choice C is correct. Choice D. is incorrect since some continuing education expenses can qualify for the lifetime learning credit
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