Common use of American Opportunity or Lifetime Learning Credits Clause in Contracts

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 17 contracts

Samples: Coverdell    Esa    Custodial    Account    Agreement, www.transamerica.com, davisfunds.com

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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 Esa Custodial Account Agreement

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