American Opportunity or Lifetime Learning Credits. A designated beneficiary may claim the American Opportunity Credit (formerly the Hope Credit) or Lifetime Learning Credit on his or her federal income tax return in the same taxable year that a tax-free distribution from a Xxxxxxxxx ESA is claimed, as long as the distribution(s) does not cover the same expenses claimed for the American Opportunity or Lifetime Learning Credit.
Appears in 18 contracts
Samples: Coverdell Education Savings Account Custodial Account Agreement, Coverdell Education Savings Account Custodial Account Agreement, Coverdell Education Savings Account Custodial Agreement
American Opportunity or Lifetime Learning Credits. A designated beneficiary may claim the American Opportunity Credit (formerly the Hope Credit) or Lifetime Learning Credit on his or her federal income tax return in the same taxable year that a tax-free tax‐free distribution from a Xxxxxxxxx ESA is claimed, as long as the distribution(s) does not cover the same expenses claimed for the American Opportunity or Lifetime Learning Credit.
Appears in 1 contract
Samples: Coverdell Education Savings Account Custodial Account Agreement
