Comments on: help with hope credit and tuition and fees deductions on taxes? http://debtreliefreviews.net/help-with-hope-credit-and-tuition-and-fees-deductions-on-taxes/ Sun, 11 Sep 2011 10:50:10 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Judy http://debtreliefreviews.net/help-with-hope-credit-and-tuition-and-fees-deductions-on-taxes/comment-page-1/#comment-230 Judy Sun, 30 Aug 2009 17:11:04 +0000 http://debtreliefreviews.net/help-with-hope-credit-and-tuition-and-fees-deductions-on-taxes/#comment-230 If you don't pay any tax, then you don't get the credit. It can only reduce your tax, so if you have none to reduce, you don't get any benefit. If you don’t pay any tax, then you don’t get the credit. It can only reduce your tax, so if you have none to reduce, you don’t get any benefit.

]]> By: ninasgramma http://debtreliefreviews.net/help-with-hope-credit-and-tuition-and-fees-deductions-on-taxes/comment-page-1/#comment-229 ninasgramma Sat, 29 Aug 2009 09:00:53 +0000 http://debtreliefreviews.net/help-with-hope-credit-and-tuition-and-fees-deductions-on-taxes/#comment-229 Scholarships which are used for tuition and fees are not income. This money does not appear on your tax return. If you paid for some of your tuition and fees with loans or out of pocket, this amount may be used for the education credits or tuition and fees deduction. These benefits will be taken by you or by the taxpayer who claims you as a dependent. Scholarships which are used for tuition and fees are not income. This money does not appear on your tax return.

If you paid for some of your tuition and fees with loans or out of pocket, this amount may be used for the education credits or tuition and fees deduction.

These benefits will be taken by you or by the taxpayer who claims you as a dependent.

]]> By: v b http://debtreliefreviews.net/help-with-hope-credit-and-tuition-and-fees-deductions-on-taxes/comment-page-1/#comment-228 v b Wed, 26 Aug 2009 06:38:34 +0000 http://debtreliefreviews.net/help-with-hope-credit-and-tuition-and-fees-deductions-on-taxes/#comment-228 1st, are you a dependent of someone else? if yes, these go on their tax return. 2nd, scholarships used to pay tuition use up the tuition dollars. If the entire tuition is covered, nothing is left for the tuition deduction/hope credit. (In fact, if your scholarship is larger than your tuition, it's taxable.) 3rd. student loans are not income, because you have to pay them back. They do count as support you provided yourself and if you use them to pay tuition, can be used for the tax breaks. See IRS publication 970. 1st, are you a dependent of someone else? if yes, these go on their tax return.

2nd, scholarships used to pay tuition use up the tuition dollars. If the entire tuition is covered, nothing is left for the tuition deduction/hope credit. (In fact, if your scholarship is larger than your tuition, it’s taxable.)

3rd. student loans are not income, because you have to pay them back. They do count as support you provided yourself and if you use them to pay tuition, can be used for the tax breaks.

See IRS publication 970.

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