The Federal Tax Credits Blog

Posts Tagged ‘college tax credits 2009’

Question: How do I determine which college tuition tax deduction/credit I am entitled to?

My son (age 19) started college in fall 2007. I made monthly payments towards his college tuition/room board. I received a 1098 recently. I do not understand this form, plus it is in my son’s name even though I am making the payments.

Thanks for any help!!

Answer: You can claim it as he is your dependent. You need to look up the information for the Hope credit. You don’t have to understand the 1098 in order to use it. Just insert the amounts in the boxes! You must file the 1040 in order to use it. I believe their is at least a worksheet or form you will need, too. It should all be in the FAQ section I found for you.

http://search.irs.gov/web/query.html?col=allirs&charset=utf-8&qp=&qs=-Wct%3A%22Internal+Revenue+Manual%22&qc=&qm=&rf=&oq=&qt=hope+credit

Don’t Miss Out on Tax Savings

Many Tax Credits Available to Long Islanders Senator Kemp Hannon is reminding you to review this end of the year savings checklist, to make sure you don’t miss out on your savings.

Recovery: Education Tax Credit-Claim it-Students – Jan 2010