Start For Free

Fast, Secure, and Always Accurate!
Help Categories

Articles
Is my Scholarship/Grant Taxable?

expenses, such as room and board, travel, and optional equipment, and generally amounts received as payments for teaching, research, or other services required as a condition for receiving the scholarship or fellowship grant. For additional...

Louisiana Refundable Credits

Residential - Allows a refundable credit for the amount of eligible costs and expenses incurred during the rehabilitation of an owner-occupied residential or owner-occupied mixed use structure located in a National Register Historic District...

Form 1098-T: Tuition Statement- Calculating Your Credit or Deduction

include most colleges, universities, and vocational schools that are eligible to participate in the Department of Education’s student aid programs. This form provides information about educational expenses that may qualify the student...

How do I know if the person I paid for childcare qualifies?

Qualified Expenses These include amounts paid for household services and care of the qualifying person while you worked or looked for work. Child support payments are not qualified expenses. Also, expenses reimbursed by a state social...

Minnesota Subtractions from Income

K-12 Education Expense Subtraction If in 2014 you purchased educational material or services for your qualifying child’s K–12 education, you may be able to subtract qualified expenses from your taxable income, regardless of your income...

Tax Benefits for Education

Deduction may help offset the cost of higher education for you, your spouse and your dependents. The amount of these credits and deductions are based on the qualified education expenses, such as college or vocational school tuition...

Please explain deductions and credits that are available related to Education.

the amount in Box 1. Expenses you have paid for higher education (such as tuition): There are a lot of costs that go along with attending a college, university, or vocational school. The good news is that many of these costs can be used to help...

Minnesota K–12 Education Expense (Schedule M1ED)

Who is Eligible You may be able to receive a credit if you paid certain types of education-related expenses in 2014 for qualifying children in grades kindergarten through 12 (K–12). Married persons filing separate returns cannot claim...

South Carolina Other Subtractions

subtract the amount of the tax credit as interest. South Carolina net operating loss. In no event is the same loss to be deducted more than once. (Keep your worksheet for your records.) No carryback losses are allowed. Capital expenses...

Education Credit - Form 8863

There are two tax credits available to persons who pay expenses for higher (postsecondary) education. They are: The American Opportunity Credit, and The Lifetime Learning Credit Can you claim more than one education credit this year...