education expense

[gman]

When preparing returns for new clients concerning education credits, are you asking for prior year returns to determine how many years they have taken the credits, or taking new clients word (sophmore, junior...)?

Has anyone had IRS question if a student has taken 5 years instead of 4 for the AOC?

[RitaB]

Can't wait

When preparing returns for new clients concerning education credits, are you asking for prior year returns to determine how many years they have taken the credits, or taking new clients word (sophmore, junior...)?

Has anyone had IRS question if a student has taken 5 years instead of 4 for the AOC?

I think AOC has only been available for three years. Does that sound right?

But, I know what you are saying. It hasn't come up yet, but I would try to get old returns, I'm thinking there are a few three year freshmen around here.

And, I also assume 1098-T's are incorrect and get the scoop on what really happened from the client.

[BP.]

When preparing returns for new clients concerning education credits, are you asking for prior year returns to determine how many years they have taken the credits, or taking new clients word (sophmore, junior...)?

If they don't know (and none do) then I want someone to count the years of Hope/AOC. If they really knew (but none do) then I would take their word for it.

[BP.]

I think AOC has only been available for three years. It hasn't come up yet.

Gotta count the Hope years too.

[RitaB]

Oh yeah

Gotta count the Hope years too.

Yep, that's true.

I have a feeling the Ed Credits run amuck. (I have no idea what that means.)

And, you are right, they never know.

[glendaprea@bellsouth.net]

Education Credit 8917

I am so confused? If you pay ie... "Cash" for private school for you child (K-12) and the school is in compliance can you take it under the Education credit 8917.

[Bonnie]

No credit for K-12