Common use of Hope or Lifetime Learning Credits Clause in Contracts

Hope or Lifetime Learning Credits. A Designated Beneficiary may claim the Hope Credit or the 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 Hope Credit or Lifetime Learning Credit.

Hope or Lifetime Learning Credits. A Designated Beneficiary may claim the Hope Credit or the 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 a long as the distribution(s) does not cover the same expenses claimed for the Hope Credit or of Lifetime Learning Credit.