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2019 Education Credits, Deductions and Savings Limits

Listed below are the educational related tax benefit annual limits. Some things to remember when reviewing theses limits:

1. No double dipping. You may not use the same educational expense for more than one tax benefit.

2. Income limits apply. Many of these benefits are subject to income limits. Please review the phase out article to see if they apply to your situation.

3. Not all expenses qualify. Each credit has criteria as to what educational expenses qualify for its use. Remember to review your expenses against these limitations.

Education CreditsAmount
American Opportunity Credit (AOC) maximum amount$2,500
Lifetime Learning Credit maximum amount$2,000
Education DeductionsAmount
Student loan interest deduction (maximum)$2,500
Education Savings Account LimitsAmount
Coverdell Education Savings Account contribution limit$2,000