This must show my age but I dont recall this when I was in H.S. Is it possible to still be in high school and take college course at a local community college and if so does this qualify for Hope credit?
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I have been told I am wrong on this by some buddies whose opinion I respect, but I will give you my perspective:Originally posted by AZ-Tax View Post
It depends.
A student who takes a course at an accredited institution can use the expense if the student is in a degree program for at least One Academic Period during the Year and must be enrolled in the school at least half time. I take this to mean that a high school student still in high school cannot claim the Hope Credit unless that course is in the spring semester at high school and that student becomes a full time freshman in a degree program in the fall.Doug -
No. These are dual credit courses and they do not meet the criteria for the Hope credit. And the student is not at least a half-time student in a degree program at a secondary institution.Originally posted by AZ-Tax View PostComment
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I am not sure of your reply.
The OP did NOT say anything about the courses being "dual credit" [i.e., for high school and for college]. In addition, the student could easily be a half-time degree student at the college.Originally posted by Burke View Post
Here is one possible scenario -
First, the student has accrued enough credits in high school such that classroom work is no longer required, BUT the student cannot GRADUATE until successfully completing an exit test [given in May or June]. Hence, the student has not graduated, but no longer attends high school classes.
Second, if this occurs in the spring time, the student can easily be a half-time student at a community college in the Spring and, in later semesters that same year, be a full-time degree student.
Hence, s/he would be entitled to claim the Hope Credit. There is no requirement for the Hope Credit that the individual have a high school diploma in hand.
Bottom line, one needs to investigate the parameters of this situation to determine the answer.Just because I look dumb does not mean I am not.Comment
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I've had the same question come up and,
like here, there doesn't seem to be a consensus for yes or not (although the "nays" seem to be in the majority).Originally posted by AZ-Tax View Post
I don't have a concrete answer either, but there's another point you might consider. As I understand it (and unless the law's changed for year '09), a student can't take the Hope Credit for more than two years. The one or two courses in high school likely won't yield as much deduction as a freshman/sophomore taking full semester loads of credit. The second college year, I assume they'd have to switch to Lifetime which is substantially reduced (again, unless it's change -- I haven't kept up lately).
I'm not sure if the high school courses would count as one of the two Hope years. Anybody know?Comment
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You just have to go by the requirements. Generally a high school student will not qualify for Hope because of the degree program or time requirement. However, as I read it, that is not a requirement of the LLC, therefore he could take it. If at a later time he qualifed for the Hope credit he could switch back until he no longer qualifies. Just my two cents.Comment
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I have become convinced that such students are not eligible for the LLC based on Reg ยง1.25A-4(c)(1) about the Lifetime Learning Credit:Originally posted by MAMalody View Post
In general. For purposes of the Lifetime Learning Credit, amounts paid for a course at an eligible educational institution are qualified tuition and related expenses if the course is either part of a postsecondary degree program or is not part of a postsecondary degree program but is taken by the student to acquire or improve job skills.
Note that the same regulations say this about the Hope Credit:
Degree requirement. For at least one academic period that begins during the taxable year, the student enrolls at an eligible educational institution in a program leading toward a postsecondary degree, certificate, or other recognized postsecondary educational credential;DougComment
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Bart,Originally posted by Black Bart View Post
I would not count a high school year as one of the two Hope Years, but a college course taken prior to the start of the september freshman term, seems to me to be a qualified education expense for that first year's Hope Credit as I read the regulations.
Like I said in my first reply, there are a lot of folks who disagree with my perspective.DougComment
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dtLee
To me your quote re the LLC means that the course counts if the course is taken by the student to improve job skills (and why else would a student take any course??) or if the course can be counted toward a degree program. What I read in your quote does not say to me that the student needs to already have the job for which the skills will be useful or that the student needs to be enrolled in the degree program.
Would you or anyone else care to comment?Comment
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Two more cents' worth --- Hope -- no, unless maybe one of travis bickle's scenarios could possibly apply. LLC -- yes.Comment
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If you are saying that as a "student" taking a course in your "occupation" improves your "job" (i.e., student) skills, I can't argue with that, but that is not how I understand the intent.Originally posted by erchess View PostDougComment
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Great Idea!!
Hey guys, I know how we can settle this right on the spot!
If the college issues a 1099-T, yes. If they don't issue one, no.
After all, who could dare question the accuracy of the brilliant higher education minds who issue these things. The 1099-T has always been an infallable bastion of guidance for tax preparers, so reliable that preparers don't have to follow up with any questions. Right?Comment
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