May a person claim both the Hope Tax Credit and the Lifetime Learning Tax Credit in the same year?
The Hope Tax Credit may be claimed for each eligible student who is listed as an exemption on a taxpayer’s return. The Lifetime Learning Tax Credit may only be claimed once per taxpayer return, but out-of-pocket qualified education expenses paid for more than one eligible student may be calculated into the amount of a taxpayers allowable credit. Additionally, a taxpayer may claim the Hope Tax Credit and the Lifetime Learning Tax Credit in the same tax year, but not for the same student.
