EDUCATION CREDITS - PARENTS - You Tube video text script |
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HERE'S A TIP FROM THE I-R-S.
GOING TO COLLEGE AND EVEN BUYING A COMPUTER FOR YOUR COURSE WORK JUST GOT EASIER.
THERE ARE TWO WAYS.
FIRST… THERE'S THE NEW AMERICAN OPPORTUNITY CREDIT.
YOU CAN CLAIM UP TO 25-HUNDRED DOLLARS ON YOUR TAX RETURN FOR COLLEGE OR OTHER POST SECONDARY SCHOOL EXPENSES.
AND BECAUSE IT IS A REFUNDABLE CREDIT, YOU MAY GET UP TO A THOUSAND DOLLARS BACK EVEN IF YOU OWE NO INCOME TAX.
HERE'S THE OTHER BIG CHANGE.
IF YOU HAVE A 529 COLLEGE SAVINGS PLAN… YOU CAN NOW USE THOSE FUNDS TO BUY A COMPUTER FOR YOUR COURSE WORK.
THERE ARE SOME LIMITATIONS… BUT MOST STUDENTS ARE ELIGIBLE.
LEARN MORE ON I-R-S-DOT-GOV.
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Page Last Reviewed or Updated: August 30, 2011