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The deductibility of health insurance premiums to small business owners is discussed, as are education expenses and the lifetime learning credit. He can also take advantage of the academic costs he is incurring by using the $2,000 Lifetime Learning Credit available to graduate students beyond the first two years of college or professionals attending classes parttime to improve or upgrade their job skills. UNDER THE NEW LAW ANY AMOUNT SPENT ON QHEE for which the taxpayer claims a Hope or Lifetime Learning Credit is not eligible for tax-free treatment as a QTP or education IRA distribution. |
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