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Explain the difference between the American Opportunity Tax Credit and the Lifetime Learning Credit. Can both of these tax credits claimed by the same qualifying
Explain the difference between the American Opportunity Tax Credit and the Lifetime Learning Credit. Can both of these tax credits claimed by the same qualifying person for the same expense? Describe at least two scenarios where claiming the American Opportunity Tax Credit may be more beneficial to claim instead of the Lifetime Learning Tax Credit and vice versa.
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