Lifetime Learning Credit DOUBLED for Tax Year 2003

The maximum "Lifetime Learning Credit" has DOUBLED for tax year 2003. The credit per taxpayer is equal to 20% of the first $10,000 of qualified higher education expenses for a maximum credit of $2,000.

Prior to year 2003, the maximum credit was $1,000 (20% of the first $5,000 of qualified higher education expenses).

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