Go Back   CDN Business Directory > Main Category > Taxes

 
 
Thread Tools Display Modes
  #1  
Old 02-19-2004, 03:51 PM
Harlan Lunsford
Guest
 
Posts: n/a
Default Re: 1098-T?

John wrote:

- quote -

> My son took a high school course offered in conjunction with
> a local college. He took the college's final exam, got an
> "A" and so gets college credit. We had to pay $200 for it.
> The college issued a 1098-T.
> How do I use it? Does it go on his return, or mine?
> TaxCut contains no reference to a 1098-T!


IF he were considered at least a half time student,
howsoever the college defines that, then that would qualify
for the HOPE credit.

On a practical note however, I wouldn't bother with it now,
and use the HOPE credit when he is fully enrolled as a
freshman and sophomore for max benefit.

Cheer$,
Harlan Lunsford, EA n LA

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 
Old 02-19-2004, 03:12 PM
Bob B
Guest
 
Posts: n/a
Default Re: 1098-T?

John" <John[at]john.com> wrote:

- quote -

> My son took a high school course offered in conjunction with
> a local college. He took the college's final exam, got an
> "A" and so gets college credit. We had to pay $200 for it.
> The college issued a 1098-T.
> How do I use it? Does it go on his return, or mine?
> TaxCut contains no reference to a 1098-T!


In TaxCut, look up Lifetime Learnng Credit. They mention
that you will probably get a 1098-T as proof of the
expenditure. Assuming your son is your dependent, you get
the 20% credit.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #-1  
Old 02-18-2004, 06:27 PM
John
Guest
 
Posts: n/a
Default 1098-T?

My son took a high school course offered in conjunction with
a local college. He took the college's final exam, got an
"A" and so gets college credit. We had to pay $200 for it.

The college issued a 1098-T.
How do I use it? Does it go on his return, or mine?
TaxCut contains no reference to a 1098-T!

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

Tags
1098t
Similar Threads
Thread Forum Replies Last Post
1098-T Education expense
Michelle Kapp: 1098-T Box 2 Tuition and Fees = $5000. Box 4 Scholarship and Grant = $6500. Nondeductible room and board = $6500. Can we apply the scholarship...
Taxes 13 03-01-2004 06:27 PM
1098-T educational expenses accounting
T. James Selwyn: Short history: I'm a grad student. I had 100% non-taxable tuition support thru 12/03. I never deducted "qualified expenses" b/c they were always...
Taxes 3 02-05-2004 05:07 AM



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

All times are GMT. The time now is 10:27 AM.