You may be able to claim an education credit if you, your spouse, or a dependent you claim on your tax return was a student enrolled at or attending an eligible educational institution.

The credits are based on the amount of adjusted qualified education expenses paid for the student in the tax year for academic periods beginning in the same tax year.

● As of the end of the tax year, the student must not have been convicted of a felony for possessing or distributing a controlled substance.

● Student must be enrolled at least half time for at least one academic period beginning during the year to claim the American Opportunity Credit.

● Student must be pursuing a program leading to a postsecondary degree, certificate, or other recognized postsecondary educational credential.

● Available ONLY for 4 tax years per eligible student (including any year(s) Hope Education Credit was claimed).

● Available ONLY if the student had not completed the first 4 years of postsecondary education at the beginning of the tax year.

NOT ALLOWED TO CLAIM THE FOLLOWING FOR EDUCATION CREDIT:

A: Parents/students claiming housing expenses (which is not allowed)
B: Parents/students claiming computers or other purchased equipment/materials that are not REQUIRED by the institution. Keep in mind that for an online degree, you must have access to a computer, but unless the program requires a certain operating system, the IRS usually won’t allow a computer to be used as an expense in this case,

Truth and Numbers Tax (TNT) will use the above information to include on my tax return. I agree that the information is true. In case of an audit, you will have to provide documented proof to the IRS. I will not hold TNT or tax preparers accountable.