IRS reminds California parents and students: be mindful of college tax credits as school begins

SAN DIEGO - The Internal Revenue Service reminds California parents and students that now is a good time to see if they will qualify for either of two college tax credits when they file their 2015 federal income tax returns.

In general, the American Opportunity Tax Credit or Lifetime Learning Credit is available to taxpayers who pay qualifying expenses for an eligible student. Eligible students include the taxpayer, spouse and dependents. The American Opportunity Tax Credit provides a credit for each eligible student, while the Lifetime Learning Credit provides a maximum credit per tax return....