Submitted By: Chuck
Answered: December 16, 2016 1:00 pm

My daughter is graduating from college in May 2017. I paid her tuition. Can I let her claim the lifetime learning credit?

Yes. If your income is too high to allow you to benefit from the credit, you can let your child use it. To do this, you must forego the dependency exemption you would otherwise have claimed for her.

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Tax Glossary

Short sale

Sale of borrowed securities made to freeze a paper profit or to gain from a declining market.

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