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"Can someone explain the Lifetime Education Credit to me. I want to find out if I can qualify for this."

For a more detailed look, see Pub 970 and the instructions for Form 8863.

The credit is nonrefundable, calculated based on 20% of up to $5,000 of qualified tuition and fees paid during the tax year. The credit is not based on course load, and both degree and nondegree courses are eligible. You may take this credit for an unlimited number of years, or until Congress changes the rules.
This credit is per person, not per return.

Excludable reimbursements from an employer would exclude those costs from being eligible for the credit. Taxable reimbursements would allow the expenses to count toward the credit.

I hope this helps.

Jim
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