The Federal Tax Credits Blog

Question: Income tax return question , form 8863?

My income is 20,000 and my status is marriage jointly return. In 2009, I paid for my college tuition, that’s my sophomore of B.A degree. So can I claim it on form 8863 for education credit :”American Opportunity credit”, Thanks

Answer: Yes, you should be able to claim the American Opportunity Credit. To claim the credit you must
-Not file married filing separate;
-If married, your income (MAGI) is less than $160,000-180,000;
-Not be claimed as a dependent on another person’s tax return, and
-You or your spouse was not a nonresident alien for any part of the year.

Also with this credit, you can include not just tuition, but also fees and course materials (i.e. books, supplies and equipment needed for your courses.)

Derel DallOlmo: New tax rules

Few things induce more anxiety this time of year than the looming April 15 income tax filing deadline. As you begin the process this year, keep in mind that tax rule changes could affect your tax liability and possibly make you eligible for new tax reduction opportunities.

Improved education credit opportunities for high-income taxpayers.: An article from: The Tax Adviser $9.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on March 1, 2010. The length of the article is 1184 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Improved education credit opport…

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