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 How is the lifetime learning credit calculated?

Answer The Lifetime Learning Credit is a tax credit award for paying qualified higher educational expenses. Qualified expenses include tuition and required fees.CalculationThe value of the Lifetime Learne... Read More »
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Top Q&A For: How is the lifetime learning credit calculated

Should I take the lifetime learning credit or tax deductions?

On One Hand: Lifetime Learning CreditThe Lifetime Learning Credit allows you to reduce your tax bill by up to $2,000 (20 percent of $10,000) as of 2010. You can claim the Lifetime Learning Credit i... Read More »
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Can you claim the lifetime learning credit if you file married separately?

Yes, a person who is married filing separately can claim the Lifetime Learning Credit. To claim the Lifetime Learning Credit, an individual must only pay qualified tuition and expenses related to s... Read More »
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How is APR calculated on credit cards?

The annual percentage rate, or APR, is calculated on a credit card by taking the monthly periodic rate and multiplying it by 12. The monthly periodic rate is the annual percentage rate divided by 1... Read More »
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How do credit scores get calculated?

Credit scores are designed to represent how likely you are to default on a loan in the future. The FICO credit score, the most commonly used score, ranges from 300 to 850.Data CollectionFinancial i... Read More »
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