Masta_Sergeant
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Subject:
Lifetime Learning Credit/ Graduate school tax credit
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I am in the process of doing my taxes online with H&r block, and its telling me that I am eligible for a credit under the lifetime learning credit.
Heres my info.
My classes costed about $6,000 total for 2011
The army paid for about $3,000 of it, and I paid out of pocket for the other $3,000 (no loan or anything)
They are online classes (fully accredited) towards a masters degree
Am I eligible for the lifetime learning credit or any other type?
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-Darkfire-
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Subject:
Lifetime Learning Credit/ Graduate school tax credit
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online classes
for a masters?
wat
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notmforce2k
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Subject:
Lifetime Learning Credit/ Graduate school tax credit
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I am not sure, OP. Sorry.
But for the above, sure. Almost all of my wife's masters program classes are offered online. It's a GREAT program (actually, the best program) and since we live half a state away from campus it's convenient.
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Banelord_FF
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Subject:
Lifetime Learning Credit/ Graduate school tax credit
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I believe you are for the amount you paid, but not the portion the army paid. I think the cap is 2k per year though.
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-Foxy-
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Subject:
Lifetime Learning Credit/ Graduate school tax credit
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we have a couple of acccountants on acf, up for them also
good deal if so !
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-Ducky-
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Subject:
Lifetime Learning Credit/ Graduate school tax credit
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I wonder if I can go back and do my taxes from last year over. Although I think I discovered the learning credit doesn't apply to graduate school outside the US.
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deadcactus
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Subject:
Lifetime Learning Credit/ Graduate school tax credit
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What military program paid for the schooling? The active-duty tuition assistance?
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Lokkie_the_Fierce
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Subject:
Lifetime Learning Credit/ Graduate school tax credit
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Costed?
Masters Degree?
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Jezza_Belle
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Subject:
Lifetime Learning Credit/ Graduate school tax credit
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Just go read the tax law, they aren't nearly as convoluted as people make them out to be. If you're in a Masters program you certainly should be able to decipher if you qualify for one of the several credits available for students.
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myxomatosis8
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Subject:
Lifetime Learning Credit/ Graduate school tax credit
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Lokkie_the_Fierce posted:
Costed?
Masters Degree?
I was going to say something similar, not sure you can claim any type of "lifetime learning" in this instance...
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Shazami
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Subject:
Lifetime Learning Credit/ Graduate school tax credit
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Well, based on my understanding of the tax credits... he should be able to claim the portion he paid if he can show evidence that he paid out of his own pocket for tuition and expenses. He will need to look at form 8863 if I recall correct.
I'm still waiting for my W-2 to come in then I'll start working on mine.
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Ptilk
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Lifetime Learning Credit/ Graduate school tax credit
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As long as you made less than 120K last year, you can claim a 2K credit for any educational expenses incurred during the year. Of course you can't claim a credit for such expenses that were paid for by another government agency, but if you paid out of pocket for any such expenses, you have every right to claim the tax credit.
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Sarena_WE
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-Darkfire- posted:
online classes
for a masters?
wat
More and more Masters programs are being moved online. The degrees that scare me that are offered online are those such as
Nursing...
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