Which of the following statement is true? The year is 2022

A. Tax credits reduces a taxpayers taxable income dollar for dollar.

B. To qualify for the earned income credit, the taxpayer must have a qualified dependent.

C. Lifetime learning tax credit is available for each qualified student including taxpayers and dependents.

D. The child tax credit is subject to phase-out based on the taxpayers AGI.

E. The American opportunity credit is available only for those students who are in their first or second year of post-secondary education.