Education tax credits and other individual credits for 2026
Education tax credits for 2026: the American Opportunity Credit pays up to $2,500 per student and the lifetime learning credit up to $2,000. Other credits too.
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Education tax credits and other individual credits for 2026
There are two federal education tax credits for 2026: the American Opportunity Credit, worth up to $2,500 per student with $1,000 refundable, and the lifetime learning credit, worth up to $2,000 per return and nonrefundable.
American Opportunity Credit: Up to $2,500 per student, $1,000 refundable.
Lifetime learning credit: Up to $2,000 per return, nonrefundable.
Education credit income cutoff: MAGI $90,000 ($180,000 joint).
Beyond education, the main federal tax credits for individuals on 2026 returns are the child tax credit, the earned income credit, the child and dependent care credit, the adoption credit and the saver's credit.
A refundable credit is paid to you even when it is larger than your tax, while nonrefundable credits can only reduce your tax to zero.
Can I claim both the American Opportunity Credit and the lifetime learning credit? Yes, on the same return for different students, but not both for the same student in the same year.
