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  • Adjustments to Income
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  • Education Credit
  • Healthcare Info
  • Quality Review & Print Sets
  • Refunds
  • Balance Due
  • Scope of Service
  • PRACTICE SCENARIOS
    • Advance Scenario #2
    • Advance Scenario #3
  • Foreign Student
  • W-4 INFO
  • W-7 ITIN APPLICATION
  • FAFSA
  • VALET DROP OFF
  • CERT ACCEPT AGENT
    • Fraud FIghter
  • Veteran Refund
  • FSA SITE INFO
  • Migrant Workers
  • Financial Literacy
  • LITC
  • Volunteering SWFL
  • Amendment
  • 9LESSONS
  • Consent Form
  • CE CREDITS
  • Scenarios
  • Getting Started
  • POA
  • Greeter Intake
  • VOL Agreement
  • New Page
  • TAXHELP
  • Transcripts
  • HSA

Education Credits & Kiddie Tax

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Is the school accredited? Find out on this website: https://ope.ed.gov/dapip/#/home


 Education Credits:

How to Maximize the AOTC​ (American Opportunity Tax Credit) and Kiddie Tax--
  • Let's say books &  tuition totaled $5000, and scholarships & Pell Grants totaled  $5,000.
  • You would say the client didn't pay for the courses and therefore aren't entitled to an education credit.
But, the IRS says in PUB 970,  IF the client will claim some of the scholarship/Pell Grant as income THEN you are entitled to claim an education credit.

Go through THIS PRESENTATION made by the IRS for more information 


Below you can view part of the PUB 4012, section J-Education 
Or click here to download the PUB4012  and here for the  PUB 970

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From Prosperity Now's TON's VITA Train come the following great resources
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For Answers Click Here
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 Click Here for Answers
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 Click Here for Answers
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About
Contact Me
You can contact me at maryvitataxes@gmail.com 
Please note: I, Mary Meador, AM NOT a certified accountant or tax law expert. I volunteer with VITA providing free tax preparation for individuals and families whose income is less than $66,000 a year. We deal with simple returns at our sites.  I cannot guarantee the accuracy of all the information on this site as tax laws change and I may not have a clear understanding of complicated issues. I am trying to provide basic tax preparation information for our volunteers to get started--remember Publication 4012 is your go-to resource for questions, as well as irs.gov and Publication 17. ​
Photo used under Creative Commons from CollegeDegrees360