Question:   Am I eligible to claim both my job-related education expenses (minus 2% of AGI) and the Lifetime Learning Credit on my tax return?

Answer:   If you are eligible to deduct educational expenses and are also eligible for one of the education credits (the Lifetime Learning Credit or the American Opportunity Tax Credit), then it is possible to claim both. You cannot use the SAME educational expenses to claim both benefits (no “double benefit”).

•  You may choose to allocate some of your expenses to the deduction and others to the credit.
•  This can be desirable because a qualifying expense for one benefit may not be a qualifying expense for the other tax benefit. For example, the cost of course-related books ordinarily qualifies for the deduction, but not for the Lifetime Learning Credit. For tax years beginning in 2009 and 2010, course-related books may qualify for the American Opportunity Tax Credit.