Compare Education Credits

There are several differences and some similarities between the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC). You can claim these two benefits on the same return but not for the same student or the same qualified expenses. See "No Double Benefits Allowed" for more information on claiming one or more education benefits.

Tax Year 2023 Education Benefits Comparison

Limit on MAGI* for single, head of household, or qualifying widow(er)

Made in 2023 for academic periods beginning in 2023 or the first 3 months of 2024

ˆ Third Party-Qualified education expenses paid by a third party for you or a student you claimed as a dependent on your return are considered paid by you for the AOTC and LLC. Payments by third parties include amounts paid by relatives or friends.

* MAGI, modified adjusted gross income: For most people, MAGI is the amount of AGI, adjusted gross income, shown on your tax return. If you file Form 1040 or Form 1040SR, AGI is on line 8b and you add back the following:

  1. Foreign earned income exclusion,
  2. Foreign housing exclusion,
  3. Foreign housing deduction,
  4. Exclusion of income by bona fide residents of American Samoa, and
  5. Exclusion of income by bona fide residents of Puerto Rico.

If you need to adjust your AGI to find your MAGI, there are worksheets in the Publication 970 PDF to help you.

Education Benefits Resources