It looks as if North Carolina finally woke up and retroactively made changes for those who already had federal education credits.
The federal deduction for qualified tuition and related expenses that had expired after tax year 2011, was extended by the American Taxpayer Relief Act of 2012 (ATRA); H.R. 8; P.L. 112-240, until December 31, 2013, retroactively for tax year 2012. A deduction of up to $4,000 is allowed on the federal return for higher education expenses.
Your software may not yet have caught up with the change, so you likely should delay filing any NC returns until that occurs. If you already filed a NC D-400 without an adjustment on line 49 ("other federal AGI deductions"), then you need to break out the ole amended D-400 worksheets.
Info from NCDOR: http://www.dornc.com/taxes/individual/tuition.html
FE
The federal deduction for qualified tuition and related expenses that had expired after tax year 2011, was extended by the American Taxpayer Relief Act of 2012 (ATRA); H.R. 8; P.L. 112-240, until December 31, 2013, retroactively for tax year 2012. A deduction of up to $4,000 is allowed on the federal return for higher education expenses.
Your software may not yet have caught up with the change, so you likely should delay filing any NC returns until that occurs. If you already filed a NC D-400 without an adjustment on line 49 ("other federal AGI deductions"), then you need to break out the ole amended D-400 worksheets.
Info from NCDOR: http://www.dornc.com/taxes/individual/tuition.html
FE
Comment