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Case Study 1: Lifetime Learning Credit CoverageJill attends Wanda's School of Beauty, an eligible institution. She paid $4,400 for the course of study, which included tuition, equipment, and books required for the course. The school requires that students pay for the books and equipment when registering for the course. What education expenses are eligible education expenses? Click here for an explanation. The entire $4,400 is an eligible educational expense. The lifetime learning credit can be up to $2,000 per tax return, depending on the amount of eligible expenses and the amount of tax liability. The credit is 20% of up to $10,000 in eligible expenses paid for all students, up to the amount of tax on the return. 
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Education Credits Workout
Lifetime Learning Credit
Education Credits