Cool THing I heard about money for students

RONJON · Jul 2, 2009

A guy at work was telling me about this thing called hope credit..and learning credit ...where apparently you can get money back on your tax return to help pay for your classes

Does anyone know anything about this? Shit a little extra cash wouldnt hurt right now?

RJ

Bionic · Jul 2, 2009

Education is tax deductible, at least here in NYC. I make sure to take at least one class a year.

gelatine · Jul 2, 2009

The hope credit and lifetime learning credit have been around for years. Any free tax preparation software should help determine your eligibility and walk you through the process, though this should have been caught when you filed last years taxes anyway.

Go here: **broken link removed**

myosin · Jul 2, 2009

Wait for tax season...

RJ-

I'm just trying to keep it really simple only b/c taxes,etc can get quite confusing/frustrating...

1) Save all your receipts for school and books, get an itemized bill.
2) Buy TurboTax next tax seaon, and it will calculate all that you are eligible for (you can write it off next tax season).

Doesn't seem like a lot of advice but again, taxes can be quite complicated and dependent upon a lot of things (married, single, kids, degree already, etc, etc.). So, to give you a "blanket" answer on this might only lead to more confusion/frustration. Some people are more eligible than others, some will get more than others, etc. depending on many things.

I'm sure you would have done this eventually- but also just google "Hope Credit" "IRS" and you will see all the variants that involved and just how much you may be eligible for.