5 Overlooked Tax Deductions for Retirees That Could Save Them Money

2. Lifetime Learning Credit

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Eligible students, even seniors, who are enrolled in any eligible educational institution can avail of the lifetime learning credit. This credit helps in paying for undergraduate, graduate, and professional degree courses. As such, there is no limit to the number of years on which the credit can be claimed. This credit is worth up to $2,000 per tax return.