Complete Tax

You may qualify for the credit; however, the HOPE and Lifetime Learning credits can only be used to reduce taxes. If you have no tax liability on your return, you cannot take the credit. Any unused credit will not be refunded.

You may also be subject to a phase out based on your modified adjusted gross income. If your filing status is single, the credit is phased out if your modified adjusted gross income is between $48,000 and $58,000. If you are filing a joint return, the range is $96,000 to $116,000. If you are filing as married filing separately, you are not eligible for the credit.