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  • Lifetime Learning Credit

    I'm about to start my PGY-1 year in residency and just found out about the lifetime learning credit (LLC). According to the IRS website, I'm eligible for the LLC, but I never filled out form 8863 or attached it to any of my tax returns throughout medical school.

    1) I didn't hold a job throughout medical school and only filed taxes in 2017 and 2020 (after I married my wife and filed jointly in 2020). Would I have needed to make an income and file taxes every year of medical school in order to earn the LLC every year?

    2) Is it possible to go back and fill out form 8863 and attach it to my tax returns for each year I attended medical school to earn the LLC retrospectively?

    Hopefully, this makes sense. Thank you for any advice in advance.
    Last edited by BrownsFan2021; 05-28-2021, 08:03 PM.

  • #2
    There is no need to have earned income to claim the LLC. Just amend your 2020 return and file 2018 and 2019. I’m afraid you’re past the SOL for your 2017 return unless you filed for an extension and submitted after 5/29/18. I’m surprised your tax software didn’t nudge you to enter that information.
    Our passion is protecting clients and others from predatory advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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