Which of the Following Is Not True of the Lifetime

question 41

Multiple Choice

Which of the following is not true of the lifetime learning credit?

• A)It is a nonrefundable credit.
• B)The credit can be claimed by taxpayers who have graduated from college and are taking professional training courses to improve their job skills.
• C)A taxpayer with multiple dependents can claim a credit for each dependent's qualifying expenses.
• D)The credit is subject to phase-out based on the taxpayer's AGI.

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Definitions:

Planning

The process of setting objectives and outlining the methods or steps to achieve them within a specified timeframe.

Informational Report

An informational report is a document designed to convey data and information to its reader without an expectation for immediate action, usually structured to inform or update.

Geographic Unit

An area defined by geographical boundaries for the purpose of analysis, management, or description.

Borrowed Information

Information or ideas that are taken from another source, which must be appropriately credited to avoid plagiarism.