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That depends on whether you're eligible for the Hope Credit, or Lifetime Learning Credit, or neither, among other things.

For Hope Credit, up to $1650, for LL, up to $800. Those are credits, not deductions, so the come right off your tax dollar for dollar if you have that much tax liability - if your tax is less than the amount of the credit, it can reduce the tax to zero.

2007-04-13 04:35:09 · answer #1 · answered by Judy 7 · 1 0

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