When Must Credit Be Repaid?

If, after you file your 2000 tax return, you receive tax-free educational assistance for, or a refund of, an expense you used to figure a lifetime learning credit on that return, you may have to recapture all or part of the credit. You must refigure your lifetime learning credit for 2000 as if the assistance or refund was received in 2000. Subtract the amount of the refigured credit from the amount of the credit you claimed. See the instructions for your 2001 tax return for information about how and where to report the recapture.

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