I've been keeping a watch on the unpassed but you can take 4,000 deduction on State, as I have T/Ps who want to know and possible ammendments. Today I saw on NC DOR that you are entitled to the deduction if AO, Hope or Lifetime Learning claimed, no if's ands or buts, then I also found an article on the website that says, you can take it, but may have to ammend if they don't pass it???????? Anyone know if this has passed yet?
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The relevant legislation has recently (03/21/2011) been passed, and NC now will allow for tax year 2010 such a deduction from income as there are no education "credits" for NC.
I'm not a lawyer, but supposedly the verbiage in Sect 1 is the determining factor....
ORIGINAL "information" from NCDOR:
"Taxpayers may go ahead and claim those deductions......"
( Not all tax software is even showing this change....you may have to override line 52 of Form NC D-400 to include the up to $4k state deduction )
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