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Author: PushShanmugam One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121146  
Subject: Education Credit Date: 3/28/2000 7:25 PM
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Small question about the Education Credit:
I am my wife are filing joint tax return. Last year, she attended a course in the community college (we paid about 500$ for the course). Can I take a education credit for that in my tax return?

Pushparaj
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Author: PushShanmugam One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 32823 of 121146
Subject: Re: Education Credit Date: 3/28/2000 7:27 PM
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correction to the post:
I wanted to mention in my post: "I and my wife", but the post reads "I am my wife". Sorry for the spelling mistake.

Pushparaj



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Author: shortamzn One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 32824 of 121146
Subject: Re: Education Credit Date: 3/28/2000 7:52 PM
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Yes, you may qualify for an education credit, probably the lifetime learning credit, since you mentioned that your wife took "a course." You may get a 20% credit for the tuition and fees for course related books, supplies and equipment. The other education credit, the Hope, is for students who have not completed the first two years of secondary education and are enrolled in a program leading to a degree. You'll need to fill out form 8863 to claim the credit. The education credits phase out once your income level reaches $80,000 when filing MFJ.

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Author: PushShanmugam One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 32861 of 121146
Subject: Re: Education Credit Date: 3/28/2000 11:16 PM
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My last year income was less than 80K. So, we can take the lifetime learning credit. Thanks for the info.

Pushparaj

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Author: mflanagan Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 32899 of 121146
Subject: Re: Education Credit Date: 3/29/2000 8:03 AM
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<<Yes, you may qualify for an education credit, probably the lifetime learning credit, since you mentioned that your wife took "a course." You may get a 20% credit for the tuition and fees for course related books, supplies and equipment. The other education credit, the Hope, is for students who have not completed the first two years of secondary education and are enrolled in a program leading to a degree. You'll need to fill out form 8863 to claim the credit. The education credits phase out once your income level reaches $80,000 when filing MFJ.>>

The instructions for Form 8863 say that qualified expenses do not include "Fees for course-related books, supplies, equipment, etc, unless the fees are required to be paid to the institution as a condition of enrollment or acceptance."

Does a textbook purchased from the school bookstore count, or not? (Say the teacher says it's required for the course.)

Mike



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Author: shortamzn One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 32901 of 121146
Subject: Re: Education Credit Date: 3/29/2000 9:04 AM
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This seems to be a gray area. I remember from the Block course I took, they said if you bought the book from the bookstore, it would qualify, if it was required for the course. I'm not sure that this can actually be considered as part of the condition of enrollment requirement, however.

I don't know how dilligent the IRS will be in matching up the school cost info, that they and you get from the colleges (1098 or 9-T?), but if it was required as a condition for acceptance, then you would think it would be included on that form. I usually stick with what's on the form as the starting point for determining the credit.

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