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MN K-12 Education Credit

($500 total). You claim four payments ($200) as educational expense for the current year, and claim the remaining six payments ($300) for the next year. However, if you bought the same instrument with a bank loan or a credit card, you claim

Minnesota Child and Dependent Care Credit

). To correctly determine your credit, you must complete a separate federal Form 2441 using the above qualified expense amounts instead of any expenses you actually paid. Include the recomputed Form 2441 you used to determine your Minnesota

New Mexico Child Day Care Credit

. * You have not been reimbursed or compensated for the amount of child day care expense for which you are claiming the credit. Reimbursed or compensated child day car expenses, like those paid with pre-tax dollars under cafeteria and similar

Deduction for Educator Expenses

If you are an eligible educator, you may be able to deduct up to $250 of expenses you paid for purchases of books and classroom supplies. These out-of-pocket expenses may lower your 2015 tax bill even if you don’t itemize your deductions

Tax Benefits for Education

Whether you are paying for a college education or a teacher buying items for your classroom, education credits and deductions can help lower your tax bill. The American Opportunity Credit, Lifetime Learning Credit or the Tuition and Fees

General Information about Educator Expenses

If you are an eligible educator, you may be able to deduct up to $250 of expenses you paid for purchases of books and classroom supplies. These out-of-pocket expenses may lower your tax bill even if you don’t itemize your deductions

First-Time Homebuyer credit

outside the U.S. have additional time to buy a principal residence in the U.S. and qualify for this credit in 2011. Please click here for more information. First-time homebuyers should begin planning now to take advantage of a new tax credit

Child Tax Credit

TaxSlayer automatically calculates the Child Tax Credit and the Additional Child Tax Credit based on the dependents and income entered into your account. With the Child Tax Credit, you may be able to reduce the federal income tax you

Child Tax Credit

The Child Tax Credit is a credit offered by the IRS that may reduce your tax liability by as much as $1,000 for each of your qualifying children. However, it is important to note that the Child Tax Credit is a nonrefundable credit which

American Opportunity Credit

This credit, originally created under the American Recovery and Reinvestment Act, has been extended through 2017. The credit can be up to $2,500 per eligible student and is available for the first four years of post secondary education