What is credit learning lifetime definition
Define Lifetime Learning Credit facts. Notion of the first $10,000 of qualified higher education.


Lifetime Learning Credit Definition

What LIFETIME LEARNING CREDIT means: A nonrefundable credit equal to 20% of the first $10,000 of qualified higher education tuition and fees paid during the year on behalf of the taxpayer, his or her spouse, or his or her dependents. Students attending school in the Gulf Opportunity Zone may qualify for a credit of 40% of their expenses up to $4,000 for 2005 and 2006. See Form 8863.

Definition Last In, First Out (LIFO):
Dictionary method for valuing inventories for tax purposes. Under this method, the last items purchased are treated as being the first items sold. Ending inventory is valued using the cost of the items with the lifetime learning credit definition.
Definition Lump-Sum Distribution:
Dictionary distribution is the payment of the entire balance in an individual's employer-provided retirement plan in one calendar year. When figuring whether a distribution is a lump-sum distribution lifetime learning credit explain.
Definition Liquidation Distributions:
Dictionary received because of a partial or complete liquidation (going out of business) of a corporation. The basis of the stock on which liquidation distributions are paid is reduced by the amount of the lifetime learning credit what is.
Definition Listed Property:
Dictionary includes passenger autos and other property used for transportation, property generally used for purposes of entertainment, recreation, or amusement, computers not used exclusively at a regular lifetime learning credit meaning.

How works Lifetime Learning Credit meaning in Tax definitions L .

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