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Publication 970 explains, on page 10, that only education
expenses paid to an "eligible educational institution"
qualify for the Hope credit. An "eligible" education
institution is one "eligible to participate in a student aid
program administered by the Department of Education" and
includes "virtually all accredited ...institutions."

Is the cosmotology school able to grant federal student aid?
Schools such as cosmotology and trucking schools may not
meet this requirement. According to Publication 970, "the
educational institution should be able to tell you if it is
an eligible education institution."

ferguson

<< ================================================== ===== > << 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. > << ================================================== ===== >

I did my girlfriend's taxes (knowing nothing about the tax
code) and may have made a mistake by not claiming Hope
Credit. She attends cosmetology school (last year and this
year), and had a loan for 3000 in 2005. I thought that she
could not claim the credit until she started paying back the
loan (starting 2006), but upon reading Publication 970
(2005) Chapter 2, I see that she could have claimed the
amount the loaning institution payed as of the date the
school received payment. Is it still possible to file an
extension, and how might this affect her 2006 taxes?

Thanks for any help and let me know if I am unclear!

Moderator:
If she has not filed, file! If she has filed, file an
amended return.

<< ================================================== ===== > << 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. > << ================================================== ===== >