See If You Qualify for Education Credits With This Interactive IRS Tool

If you're paying for college, you probably need all the help you can get, and thankfully, you can get at least a little tax relief. To see if you qualify for specific education-related credits and deductions, the IRS has created an online interactive tool.

According to the IRS, the tool helps you determine if you're eligible for certain educational credits or deductions like the American Opportunity Credit, the Lifetime Learning Credit, and the Tuition and Fees Deduction.
The Lifetime Learning Credit is worth up to $2,000 per tax return and if you or a dependent paid for higher education costs, you might be eligible, depending on your income. There are income limits and some requirements, so check the IRS's guide for details . You may also be able to claim the American Opportunity Credit , which is worth up to $2,500 for qualified education expenses. There are a handful of other requirements and stipulations, though, and the IRS tool can help you figure it out, depending on your situation. They say you'll need the following:

• Filing status
  
• Student's enrollment status
  
• Your adjusted gross income
  
• Who paid the expenses, when the expenses were paid, and for what academic period
  
• If any expenses were paid with tax-exempt funds
  
• If any expenses were paid with distributions from a Coverdell Education Savings Account or Qualified Tuition Program