00:01
Attend grad school for 2023.
00:03
Now he received a form of 10 98 statement showing the tuition paid of 12 ,100.
00:11
What is the maximum amount of lifetime learning credit he can claim for 2023? so the lifetime learning credit is defined as 20 % of the first 10 ,000 qualified educational expense.
00:49
So from there you can see the grad school seems to be a qualified educational expense because barry received a 1098 statement.
01:11
Now although the tuition itself is 12 ,100, according to our definition, only the first 10 ,000 will be qualified.
01:22
So this means that 10 ,000 will be qualified and we know that it's 20%.
01:32
This means that even if you have we pay more than 10 ,000, there's only 20 % of the first 10 ,000 will be qualified for the lifetime learning credit, which this amount is $2 ,000...