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Therefore, if neither child qualifies for the American opportunity credit, the lifetime learning credit is $1,600 ($8,000 ? 20%)

Therefore, if neither child qualifies for the American opportunity credit, the lifetime learning credit is $1,600 ($8,000 ? 20%) For the lifetime learning credit, only expenses of $8,000 for both children are qualified educational expenses, because the $1,000 per child for books does not qualify. A taxpayer erican opportunity credit and lifetime learning credit) or…