Which of the following statements is true about education credits?

Multiple Choice

A taxpayer may be eligible to claim the education credits regardless of their AGI amount.

A taxpayer can use the same qualifying expenses for both the American opportunity tax and lifetime learning credits.

A taxpayer cannot claim an American opportunity tax credit or lifetime learning credit in the same year he or she takes a tax$-$free distribution from a Coverdell Education Savings Account.

The lifetime learning credit may be limited by AGI levels and may completely phase out when modified AGI exceeds a certain amount.