Lifetime education credit is a deduction or you get money back from IRS?

Question

Suppose I had paid taxes of $1K and I am eligible for lifetime education credit of 2K...will I get the 2K+eligible tax return or 2K will be applied as deduction.

Answer 1

The Lifetime Learning credit is a non refundable credit that reduces your tax liability. If you had a tax liabiliy of 2000.00 It would reduce your tax to -0-

Answer 2

It's a credit so it comes off of your total tax to take it down to zero. You don't get the extra back.