College Curious Income Tax Question

by Kemonica
(North Carolina)

College Curious Income Tax Question

If i am 19 and I'm in college how much would it get back if my mom carries me?

College Education

by Tony
(Richland, WA)

I paid 1/2 of my daughter's college but she is not a dependant on my tax return. Can I dedcut any of that?

College Expense

My daughter cashed out stocks for her housing for college. I am claiming her ...how do I show that??

College Student Wins Scratch Off

I won the scratch off for $5000 I attend college full time . do I have to pay back taxes for the winnings?

College Tax Credit

by Amy
(St. Louis, MO)

If I paid my dependant daughters qualified college expenses with a parent plus loan (not cash out of pocket), can I still claim the American Opportunity Tax credit of $2500 assuming I meet all other income elgibility rules? Question is did I need to pay for her college expenses in cash, or is paying with a parent plus loan acceptable?

Hello Amy,

Thank you for your question.

You can claim an education credit for qualified education expenses paid with the proceeds of a loan.

Use the expenses to figure the education credit for the year in which the expenses are paid, not the year in which the loan is repaid.

Treat loan payments sent directly to the educational institution as paid on the date the institution redits the student's account.

Sons College Tuition

by Don Sweeney
(Winnetka, CA)

I am curious as to whether or not I can deduct any of my son's college tuition on my income tax return?

Thank you for your question regarding your sons college tuition. Generally, if you paid for his tuition and he can be claimed as a dependent on your tax return, then you CAN claim your son's college tuition as a deduction on your income tax return in the year you paid it.

College Tuition

Can I claim the 7,000.00 I put on my credit card to pay my daughter's college tuition?

Hello,

Good question. As long as you are claiming your daughter as a dependent on your return, you can claim the 7000 you put on your credit card to pay for her tuition. Please be aware that the full 7000 will be limited.

Education Tax Deduction In Canada

by Elsie
(Canada)

Reduction allowed by Revenue Canada by grandparents for tuition paid for 2 grandchildren attending university, including accomodation etc

Full Time Student 24

Can I claim my Daughter in 2011 if she turns 24 in March of 2011 and is a full time student, she works and made about 19K (she is only 23yr for 3 months in 2011). If I am not able to claim her, the tutition I pay, can I claim that as a deduction on my income tax or should I give her the money so she can claim it on income tax?

Half Time Student?

by Jill
(PS)

I took classes towards a degree but at 2 different colleges (one 4 credit at one school & a 3 credit course at another school). So,I received both 1098 forms & of course at least half time is not checked..but technically i was a half time student between the 2 schools. Can i still clain half time student for the Amer. Opportunity tax credit? Thanks Jill

International Student Income from Outside US

by AR
(Fargo, ND, USA)

Hi

I am an international student under F1 Visa at USA.

I have income from online advertisement from Austria.

I want to know, if the company from Austria send the money through Paypal for me, and here I deposit the money into my US BANK account, Do I need to pay tax, or because, I am non-resident and the income was from a source outside of US it is fine.

Thanks

Is College Tuition Taxable?

by David
(Buffalo Grov,e Illinois)

My school district is paying about $15,000 this year for tuition towards my advanced college degree. They are saying that this is income, and I need to pay taxes on this money. Is this true? I thought this was a benefit not income since I do not see any of this money. It goes directly to the University, not to me.
Please help.
Thanks.

Tuition Rebate

I have a 1098-T tuition statement form. Box 7 is checked and it says if the amount in box 1 or 2 includes amount for an academic period beginning January-March 2011. So do I file my tuition for Spring 2011 since I paid it on January 10th or do I wait and file that next year?

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