Message Font: Serif | Sans-Serif
No. of Recommendations: 0
IRS Publication 970 states that the Lifetime Learning Credit is nonrefundable, but neither Form 1040 nor it's instructions say anything to that effect. The form you fill out to take the credit (8863, I think) also says nothing to this effect. The instructions for this form are also mute on this nonrefundability. Without the credit, I am going to get an $80 refund. If I add the credit, I would get just over $1000 back. I am married filing jointly, no kids, well under the income limits, but confused as to why one document would state such an important point so clearly, and the other would completely ignore it. Any ideas, anyone? Thank you very much in advance!!
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.