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#5
02-22-2006, 12:51 PM
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 Re: Hope Credit question... A.G. Kalman wrote: - quote - > yue.alex[at]gmail.com wrote:
Thank you all very much for you help.> > I was hoping I could get some clarification as to who > > qualifies for the Hope Credit. My wife had started college > > back in 1999, and was going for a degree in Journalism. > > During her last year (2003), she dropped out and never > > completed her education. > > > Currently, she is going back to school for a DIFFERENT > > degree. She is in her first year of school for that degree. > > Is she eligible for the Hope Credit? > > > I don't think she is, since in publication 970 it says the > > first two years, but was hoping I could get confirmation on > > this. > Assuming your spouse has not used the Hope Credit for two > tax years, she would be eligible if the college she is > attending carries her on their "books" as a freshman or > sophomore. This is highly unlikely, as I assume the school > has given her credit for most if not all of the freshman & > sophomore and possibly upper division classes she took in > 1999 - 2003. She did have some credits transferred, so I think that puts a firm "no" to my question... that and the 4 other no's I got  Thank you again for you help and time Alex << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#4
02-21-2006, 09:14 AM
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| Re: Hope Credit question... yue.alex[at]gmail.com wrote: - quote - > I was hoping I could get some clarification as to who
Assuming your spouse has not used the Hope Credit for two> qualifies for the Hope Credit. My wife had started college > back in 1999, and was going for a degree in Journalism. > During her last year (2003), she dropped out and never > completed her education. > Currently, she is going back to school for a DIFFERENT > degree. She is in her first year of school for that degree. > Is she eligible for the Hope Credit? > I don't think she is, since in publication 970 it says the > first two years, but was hoping I could get confirmation on > this. tax years, she would be eligible if the college she is attending carries her on their "books" as a freshman or sophomore. This is highly unlikely, as I assume the school has given her credit for most if not all of the freshman & sophomore and possibly upper division classes she took in 1999 - 2003. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#3
02-21-2006, 08:35 AM
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| Re: Hope Credit question... yue.alex[at]gmail.com wrote: - quote - > I was hoping I could get some clarification as to who
Confirmed. Only first two years, i.e. freshman and sophomore> qualifies for the Hope Credit. My wife had started college > back in 1999, and was going for a degree in Journalism. > During her last year (2003), she dropped out and never > completed her education. > Currently, she is going back to school for a DIFFERENT > degree. She is in her first year of school for that degree. > Is she eligible for the Hope Credit? > I don't think she is, since in publication 970 it says the > first two years, but was hoping I could get confirmation on > this. equivalents, are eligible. ChEAr$, Harlan Lunsford, EA n LA Mon 20 Feb 2006 [at] hh << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#2
02-21-2006, 08:16 AM
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| Re: Hope Credit question... yue.alex[at]gmail.com posted: - quote - > I was hoping I could get some clarification as
No.> to who qualifies for the Hope Credit. My wife > had started college back in 1999, and was > going for a degree in Journalism. During her > last year (2003), she dropped out and never > completed her education. > Currently, she is going back to school for a > DIFFERENT degree. She is in her first year of > school for that degree. > =A0=A0Is she eligible for the Hope Credit? - quote - > I don't think she is, since in publication 970 it
If changing a major could requalify people for the Hope> says the first two years, but was hoping I > could get confirmation on this. Credit, there would be a landslide of changes for tax purposes. Indeed, there normally are plenty of students who revise their degree goals after two years. Bill << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#1
02-21-2006, 08:16 AM
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| Re: Hope Credit question... <yue.alex[at]gmail.com> wrote - quote - > I was hoping I could get some clarification as to who
It's for the first two calander/tax years.> qualifies for the Hope Credit. My wife had started college > back in 1999, and was going for a degree in Journalism. > During her last year (2003), she dropped out and never > completed her education. > Currently, she is going back to school for a DIFFERENT > degree. She is in her first year of school for that degree. > Is she eligible for the Hope Credit? > I don't think she is, since in publication 970 it says the > first two years, but was hoping I could get confirmation on > this. Her tuirion and other qualifying expenses go toward the Lifetime Learning Credit. -- Paul Thomas, CPA paulthomascpapc[at]bellsouth.net << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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02-21-2006, 08:16 AM
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| Re: Hope Credit question... yue.alex[at]gmail.com wrote: - quote - > I was hoping I could get some clarification as to who
No.> qualifies for the Hope Credit. My wife had started college > back in 1999, and was going for a degree in Journalism. > During her last year (2003), she dropped out and never > completed her education. > Currently, she is going back to school for a DIFFERENT > degree. She is in her first year of school for that degree. > Is she eligible for the Hope Credit? - quote - > I don't think she is, since in publication 970 it says the
Well, now you have it. Either the Tuition and Fees deduction> first two years, but was hoping I could get confirmation on > this. or the Lifetime Learning Credit may be available to her (depending on AGI). Those are also explained in Pub 970. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#-1
02-20-2006, 08:39 AM
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| Hope Credit question... I was hoping I could get some clarification as to who qualifies for the Hope Credit. My wife had started college back in 1999, and was going for a degree in Journalism. During her last year (2003), she dropped out and never completed her education. Currently, she is going back to school for a DIFFERENT degree. She is in her first year of school for that degree. Is she eligible for the Hope Credit? I don't think she is, since in publication 970 it says the first two years, but was hoping I could get confirmation on this. Thanks for all your help! Alex << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| credit, hope, question |
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