Which of the following is true regarding the Lifetime Learning Credit?

The Lifetime Learning Credit (LLC) is designed to help taxpayers offset the costs of higher education. One key aspect of this credit is that it can indeed be claimed multiple times during a taxpayer's lifetime. This characteristic makes it flexible for individuals who may pursue different courses of study over the years, whether for degree programs or continuing education.

The credit can be applied for an unlimited number of tax years, as long as the taxpayer remains eligible based on income limits and the types of qualified expenses paid. So, if someone decides to further their education at different points in their life, they can take advantage of the Lifetime Learning Credit repeatedly, providing significant financial relief over time.

In contrast, the other options have specific limitations or conditions. For instance, the credit does not require 20 credit hours, it is non-refundable (meaning it can reduce tax liability to zero but not result in a refund), and it is not restricted to full-time students, as part-time students can also qualify. These characteristics highlight the versatility and appeal of the Lifetime Learning Credit for a broad range of learners.