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Free H&r Block Tax Software 2011

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Free H&r Block Tax Software 2011

Free h&r block tax software 2011 Index A Actividades Pasivas , Requisito 6 —Tiene que tener ingresos de inversiones de $3,300 o menos Adopción, hijo de, Hijo adoptivo. Free h&r block tax software 2011 Anexos C, Empleado estatutario. Free h&r block tax software 2011 , Hoja de Trabajo B del Crédito por Ingreso del Trabajo. Free h&r block tax software 2011 C-EZ, Empleado estatutario. Free h&r block tax software 2011 , Hoja de Trabajo B del Crédito por Ingreso del Trabajo. Free h&r block tax software 2011 EIC, Se acerca el plazo para la presentación de la declaración y aún no tiene un número de Seguro Social. Free h&r block tax software 2011 , Anexo EIC SE, Miembro del clero. Free h&r block tax software 2011 , Hoja de Trabajo B del Crédito por Ingreso del Trabajo. Free h&r block tax software 2011 Anualidades, Cálculo del ingreso del trabajo. Free h&r block tax software 2011 Asignación básica para el sustento (BAS), Paga militar no tributable. Free h&r block tax software 2011 Asignación básica para la vivienda (BAH), Paga militar no tributable. Free h&r block tax software 2011 Asistente EITC , ¿Hay Ayuda Disponible en Internet? Ayuda tributaria (see Impuestos, ayuda con) B Beneficios a los veteranos, Ingresos que no se Consideran Ingresos del Trabajo Beneficios de bienestar social, Ingresos que no se Consideran Ingresos del Trabajo Beneficios de la jubilación ferroviaria, Ingresos que no se Consideran Ingresos del Trabajo Beneficios del Seguro Social, Ingresos que no se Consideran Ingresos del Trabajo Beneficios por desempleo, Ingresos que no se Consideran Ingresos del Trabajo Beneficios por Incapacidad, Beneficios por Incapacidad Beneficios sindicales por huelga, Beneficios sindicales por huelga. Free h&r block tax software 2011 Bienes gananciales, Bienes gananciales. Free h&r block tax software 2011 , Bienes gananciales. Free h&r block tax software 2011 C Casado que presenta una declaración conjunta, Requisito 1 —Límites del ingreso bruto ajustado (AGI, por sus siglas en inglés), Requisito de Declaración Conjunta Casado, hijo, Hijo casado. Free h&r block tax software 2011 Clero, Miembro del clero. Free h&r block tax software 2011 Cómo calcular usted mismo el EIC , Cómo Calcular Usted Mismo el EIC Compensación del Seguro Social, Ingresos que no se Consideran Ingresos del Trabajo Crianza, hijo de, Hijo de crianza. Free h&r block tax software 2011 D Denegación del EIC , Capítulo 5 —Denegación del EIC Divorciados, requisito especial para padres, Requisito especial para padres divorciados o separados (o que viven aparte). Free h&r block tax software 2011 E Ejemplos detallados, Capítulo 6 —Ejemplos Detallados El IRS le calculará el Crédito (EIC), El IRS le Calculará el Crédito (EIC) Empleado de una iglesia, Empleados de una iglesia. Free h&r block tax software 2011 Empleado estatutario, Empleado estatutario. Free h&r block tax software 2011 , Empleados estatutarios. Free h&r block tax software 2011 Escuela, Definición de escuela. Free h&r block tax software 2011 Estado civil Cabeza de familia, Requisito 3 —Su estado civil para efectos de la declaración no puede ser casado que presenta la declaración por separado Casado que presenta la declaración por separado, Requisito 3 —Su estado civil para efectos de la declaración no puede ser casado que presenta la declaración por separado Estados Unidos, Estados Unidos. Free h&r block tax software 2011 , Estados Unidos. Free h&r block tax software 2011 Estudiante, Definición de estudiante. Free h&r block tax software 2011 Extranjero no residente, Requisito 4 —Tiene que ser ciudadano de los Estados Unidos o extranjero residente durante todo el año F Formularios 1040, ¿Necesito esta Publicación?, Ingreso bruto ajustado (AGI). Free h&r block tax software 2011 , Si no tiene un número de Seguro Social (SSN). Free h&r block tax software 2011 , Requisito 4 —Tiene que ser ciudadano de los Estados Unidos o extranjero residente durante todo el año, Requisito 6 —Tiene que tener ingresos de inversiones de $3,300 o menos, Salarios, sueldos y propinas. Free h&r block tax software 2011 , Beneficios por Incapacidad 1040A, Ingreso bruto ajustado (AGI). Free h&r block tax software 2011 , Si no tiene un número de Seguro Social (SSN). Free h&r block tax software 2011 , Requisito 4 —Tiene que ser ciudadano de los Estados Unidos o extranjero residente durante todo el año, Requisito 6 —Tiene que tener ingresos de inversiones de $3,300 o menos, Salarios, sueldos y propinas. Free h&r block tax software 2011 , Beneficios por Incapacidad 1040EZ, Ingreso bruto ajustado (AGI). Free h&r block tax software 2011 , Si no tiene un número de Seguro Social (SSN). Free h&r block tax software 2011 , Requisito 6 —Tiene que tener ingresos de inversiones de $3,300 o menos, Salarios, sueldos y propinas. Free h&r block tax software 2011 1040X, Si no tiene un número de Seguro Social (SSN). Free h&r block tax software 2011 , Se acerca el plazo para la presentación de la declaración y aún no tiene un número de Seguro Social. Free h&r block tax software 2011 2555, Requisito 5 —No puede presentar el Formulario 2555 ni el Formulario 2555-EZ 2555–EZ, Requisito 5 —No puede presentar el Formulario 2555 ni el Formulario 2555-EZ 4029, Formulario 4361 ó 4029 Aprobado 4361, Formulario 4361 ó 4029 Aprobado 4797, ¿Necesito esta Publicación? 4868, Si no tiene un número de Seguro Social (SSN). Free h&r block tax software 2011 , Se acerca el plazo para la presentación de la declaración y aún no tiene un número de Seguro Social. Free h&r block tax software 2011 4868(SP), Si no tiene un número de Seguro Social (SSN). Free h&r block tax software 2011 , Se acerca el plazo para la presentación de la declaración y aún no tiene un número de Seguro Social. Free h&r block tax software 2011 8332, Requisito especial para padres divorciados o separados (o que viven aparte). Free h&r block tax software 2011 8814, ¿Necesito esta Publicación?, Requisito 6 —Tiene que tener ingresos de inversiones de $3,300 o menos 8862(SP), Capítulo 5 —Denegación del EIC , Formulario 8862(SP) Fraude, Excepción 2. Free h&r block tax software 2011 , ¿Se le ha Prohibido Reclamar el Crédito por Ingreso del Trabajo por Cierto Número de Años? Fuerzas Armadas, Opción de incluir la paga no tributable por combate. Free h&r block tax software 2011 , Paga militar no tributable. Free h&r block tax software 2011 , Servicio activo prolongado. Free h&r block tax software 2011 H Hijo Hijo adoptivo, Hijo adoptivo. Free h&r block tax software 2011 Hijo casado, Hijo casado. Free h&r block tax software 2011 Hijo de crianza, Hijo de crianza. Free h&r block tax software 2011 Hijo secuestrado, Hijo secuestrado. Free h&r block tax software 2011 Nacimiento o fallecimiento de, Nacimiento o fallecimiento de un hijo. Free h&r block tax software 2011 Hijo calificado, ¿Hay que Tener un Hijo para Tener Derecho al Crédito por Ingreso del Trabajo (EIC)?, Requisito 1 —Límites del ingreso bruto ajustado (AGI, por sus siglas en inglés), Capítulo 2 —Requisitos que Tiene que Cumplir si Tiene un Hijo Calificado, Requisito 8 —Su hijo tiene que cumplir los requisitos de parentesco, edad, residencia y declaración conjunta Estados Unidos, Requisito de Residencia Hogar, Requisito de Residencia Requisito de Declaración Conjunta, Declaraciones conjuntas. Free h&r block tax software 2011 Requisito de Edad, Requisito de Edad Requisito de Parentesco, Requisito de Parentesco Requisito de Residencia, Requisito de Residencia Total y permanentemente incapacitado, Total y permanentemente incapacitado. Free h&r block tax software 2011 Hogar Albergues para personas sin hogar, Albergues para personas sin hogar. Free h&r block tax software 2011 Estados Unidos, Estados Unidos. Free h&r block tax software 2011 Militar, Personal militar destacado fuera de los Estados Unidos. Free h&r block tax software 2011 , Personal militar destacado fuera de los Estados Unidos. Free h&r block tax software 2011 Hoja de Trabajo 2, Hoja de Trabajo 2: Hoja de Trabajo para la Línea 4 de la Hoja de Trabajo 1 I Impuestos, ayuda con, Cómo Obtener Ayuda con los Impuestos Información TTY/TDD , Teléfono. Free h&r block tax software 2011 Ingreso del trabajo, Ingresos del Trabajo Empleado estatutario, Ingreso del Trabajo, Empleado estatutario. Free h&r block tax software 2011 Trabajo por cuenta propia, Ingreso del Trabajo Ingresos de dividendos, Ingresos que no se Consideran Ingresos del Trabajo Ingresos de inversiones, Qué Hay de Nuevo para el año 2013, Requisito 6 —Tiene que tener ingresos de inversiones de $3,300 o menos Ingresos netos del trabajo por cuenta propia, Ingresos netos del trabajo por cuenta propia. Free h&r block tax software 2011 , Ingresos netos del trabajo por cuenta propia de $400 o más. Free h&r block tax software 2011 Ingresos que no se Consideran Ingresos de Trabajo, Ingresos que no se Consideran Ingresos del Trabajo Intereses, Ingresos que no se Consideran Ingresos del Trabajo Internet, ayuda por Asistente EITC , ¿Hay Ayuda Disponible en Internet? M Miembro del clero, Miembro del clero. Free h&r block tax software 2011 Militar Fuera de los Estados Unidos, Personal militar destacado fuera de los Estados Unidos. Free h&r block tax software 2011 , Personal militar destacado fuera de los Estados Unidos. Free h&r block tax software 2011 Paga no tributable, Paga militar no tributable. Free h&r block tax software 2011 Paga no tributable por combate, Opción de incluir la paga no tributable por combate. Free h&r block tax software 2011 , Paga no tributable por combate. Free h&r block tax software 2011 Paga por combate, Opción de incluir la paga no tributable por combate. Free h&r block tax software 2011 , Paga militar no tributable. Free h&r block tax software 2011 Ministro, Vivienda de un ministro de una orden religiosa. Free h&r block tax software 2011 N Número de identificación del contribuyente en proceso de adopción (ATIN), Hijo casado. Free h&r block tax software 2011 Número de identificación del contribuyente individual (ITIN), Otro número de identificación del contribuyente. Free h&r block tax software 2011 , Hijo casado. Free h&r block tax software 2011 Número de Seguro Social (SSN), Requisito 2 —Tiene que tener un número de Seguro Social (SSN) válido, Hijo casado. Free h&r block tax software 2011 P Padres, divorciados o separados, Requisito especial para padres divorciados o separados (o que viven aparte). Free h&r block tax software 2011 Pagos de bienestar socia a cambio de actividades laborales, Pagos de bienestar social a cambio de actividades laborales. Free h&r block tax software 2011 Pareja doméstica, Pareja o sociedad doméstica en Nevada, Washington y California. Free h&r block tax software 2011 Pensión alimenticia, Ingresos que no se Consideran Ingresos del Trabajo Pensiones, Cálculo del ingreso del trabajo. Free h&r block tax software 2011 Personas que trabajan por cuenta propia, Hoja de Trabajo B del Crédito por Ingreso del Trabajo. Free h&r block tax software 2011 Propinas, sueldos y salarios, Salarios, sueldos y propinas. Free h&r block tax software 2011 Publicaciones (see Impuestos, ayuda con) R Recluso, Ingresos recibidos como recluso en una institución penal. Free h&r block tax software 2011 , Cálculo del ingreso del trabajo. Free h&r block tax software 2011 Recordatorios, Recordatorios Reglas del desempate, Reglas del desempate. Free h&r block tax software 2011 , Cómo aplicar el Requisito 9 a padres divorciados o separados (o que viven aparte). Free h&r block tax software 2011 Requisito de Declaración Conjunta (see Hijo calificado) Requisito de Edad (see Hijo calificado) Requisito de Parentesco (see Hijo calificado) Requisito de Residencia (see Hijo calificado) Requisito especial para padres divorciados o separados, Requisito especial para padres divorciados o separados (o que viven aparte). Free h&r block tax software 2011 S Salarios, sueldos y propinas, Salarios, sueldos y propinas. Free h&r block tax software 2011 Secuestro, hijo, Hijo secuestrado. Free h&r block tax software 2011 Separados, requisito especial para padres, Requisito especial para padres divorciados o separados (o que viven aparte). Free h&r block tax software 2011 Servicio activo prolongado, Servicio activo prolongado. Free h&r block tax software 2011 Servicio del Defensor del Contribuyente, El Servicio del Defensor del Contribuyente está aquí para ayudarlo a usted. Free h&r block tax software 2011 Servicios gratis de impuestos, Ayuda gratuita con la preparación de su declaración de impuestos. Free h&r block tax software 2011 Sin Hogar, albergues para personas, Albergues para personas sin hogar. Free h&r block tax software 2011 T Tabla del Crédito por Ingreso del Trabajo (EIC) , EIC Table Total y permanentemente incapacitado, Total y permanentemente incapacitado. Free h&r block tax software 2011 V Veteranos, beneficios, Ingresos que no se Consideran Ingresos del Trabajo Prev  Up     Home   More Online Publications
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The Free H&r Block Tax Software 2011

Free h&r block tax software 2011 Publication 970 - Additional Material Table of Contents AppendicesAppendix A. Free h&r block tax software 2011 Illustrated Example of Education Credits Glossary Appendices The following appendices are provided to help you claim the education benefits that will give you the lowest tax. Free h&r block tax software 2011 Appendix A—An illustrated example of education credits, including a filled-in Form 8863 showing how to claim both the American opportunity credit and lifetime learning credit for 2013. Free h&r block tax software 2011 Appendix B—A chart summarizing some of the major differences between the education tax benefits discussed in this publication. Free h&r block tax software 2011 It is intended only as a guide. Free h&r block tax software 2011 Look in this publication for more complete information. Free h&r block tax software 2011   Appendix A. Free h&r block tax software 2011 Illustrated Example of Education Credits Dave and Valerie Jones are married and on their 2013 joint tax return they claim exemptions for their two dependent children, Sean (age 21, social security number: 000-00-0001) and Carey (age 18, social security number: 000–00–0002). Free h&r block tax software 2011 Their modified adjusted gross income (MAGI) on Form 1040, line 38 is $110,000. Free h&r block tax software 2011 Because Dave and Valerie have unusually high itemized deductions, their taxable income is $10,000 and their tax before credits is $1,000. Free h&r block tax software 2011 Sean enrolled as a full-time graduate student in August 2013 at California State College. Free h&r block tax software 2011 He graduated with his bachelor's degree in 2012 and did not attend school from January 2013 through July 2013. Free h&r block tax software 2011 His parents claimed the Hope Scholarship Credit for Sean for 2008 and the American opportunity credit for Sean for 2010, 2011, and 2012. Free h&r block tax software 2011 Carey enrolled full time as a freshman at the same college in January 2013 to begin working on her bachelor's degree. Free h&r block tax software 2011 In 2013, Dave and Valerie paid $7,000 in tuition for Sean and $8,500 in tuition for Carey. Free h&r block tax software 2011 California State College issued two Forms 1098-T, one for Sean and one for Carey, and sent them to the Joneses' residence. Free h&r block tax software 2011 California State College reports amounts billed in 2013 instead of amounts paid during 2013. Free h&r block tax software 2011 In completing Form 8863, the Joneses use the amounts they paid. Free h&r block tax software 2011 Neither Sean nor Carey has been convicted of a felony for possession or distribution of a controlled substance before the end of 2013. Free h&r block tax software 2011 Dave and Valerie figure their education credits by completing Form 8863. Free h&r block tax software 2011 They begin Form 8863 on page 2 before completing Part I on page 1. Free h&r block tax software 2011 Because the Joneses have two eligible students, they will complete page 2 twice, once for their son, Sean, and once for their daughter, Carey. Free h&r block tax software 2011 The Joneses decide to complete Part III for Carey first, as shown later. Free h&r block tax software 2011 They carry over the amount of $2,500 entered on Part III, line 30, to Part I, line 1. Free h&r block tax software 2011 The Joneses complete a separate Part III for their son Sean. Free h&r block tax software 2011 They check the “Yes” box on line 23, determine that Sean is not eligible for the American opportunity credit, and go to line 31 as instructed. Free h&r block tax software 2011 They figure their line 31 adjusted qualified education expenses for Sean to be $7,000. Free h&r block tax software 2011 Once they have completed Part III for each student, they figure their credits. Free h&r block tax software 2011 The Joneses figure their refundable American opportunity credit of $1,000 by completing Form 8863, Part I, lines 1 through 8. Free h&r block tax software 2011 They enter the amount from line 8, $1,000, on line 66 of their Form 1040. Free h&r block tax software 2011 The Joneses enter $7,000 on Part II, line 10, of Form 8863 and figure their tentative lifetime learning credit for 2013 to be $1,400 (line 12). Free h&r block tax software 2011 They cannot claim the full amount because their MAGI of $110,000 is greater than $107,000. Free h&r block tax software 2011 They enter the reduced amount of $1,190 (figured on Part II, line 18) on the Credit Limit Worksheet, line 1. Free h&r block tax software 2011 The $1,190 is added to their nonrefundable American opportunity credit ($1,500 on line 2 of the Credit Limit Worksheet) for a total nonrefundable credit of $2,690. Free h&r block tax software 2011 The Joneses enter $1,000 on line 7 of the Credit Limit Worksheet, which is the smaller of their tax from line 46 of their Form 1040 (which is $1,000) or the $2,690 on line 3 of the Credit Limit Worksheet. Free h&r block tax software 2011 They enter $1,000 on line 19, Part II of Form 8863 and on line 49 of Form 1040. Free h&r block tax software 2011 This image is too large to be displayed in the current screen. Free h&r block tax software 2011 Please click the link to view the image. Free h&r block tax software 2011 Form 1098-T Adjusted Qualified Education Expenses Worksheet (Form 8863 instructions) 1. Free h&r block tax software 2011 Total qualified education expenses paid for or on behalf of the student in 2013 for the academic period 8,500 2. Free h&r block tax software 2011 Less adjustments:     a. Free h&r block tax software 2011 Tax-free educational assistance received in 2013 allocable to the academic period   0     b. Free h&r block tax software 2011 Tax-free educational assistance received in 2014 (and before you file your 2013 tax return) allocable to the academic period   0     c. Free h&r block tax software 2011 Refunds of qualified education expenses paid in 2013 if the refund is received in 2013 or in 2014 before you file your 2013 tax return   0   3. Free h&r block tax software 2011 Total adjustments (add lines 2a, 2b, and 2c) 0 4. Free h&r block tax software 2011 Adjusted qualified education expenses. Free h&r block tax software 2011 Subtract line 3 from line 1. Free h&r block tax software 2011 If zero or less, enter -0- 8,500 This image is too large to be displayed in the current screen. Free h&r block tax software 2011 Please click the link to view the image. Free h&r block tax software 2011 Form 1098-T Adjusted Qualified Education Expenses Worksheet (Form 8863 instructions) 1. Free h&r block tax software 2011 Total qualified education expenses paid for or on behalf of the student in 2013 for the academic period 7,000 2. Free h&r block tax software 2011 Less adjustments:     a. Free h&r block tax software 2011 Tax-free educational assistance received in 2013 allocable to the academic period   0     b. Free h&r block tax software 2011 Tax-free educational assistance received in 2014 (and before you file your 2013 tax return) allocable to the academic period   0     c. Free h&r block tax software 2011 Refunds of qualified education expenses paid in 2013 if the refund is received in 2013 or in 2014 before you file your 2013 tax return   0   3. Free h&r block tax software 2011 Total adjustments (add lines 2a, 2b, and 2c) 0 4. Free h&r block tax software 2011 Adjusted qualified education expenses. Free h&r block tax software 2011 Subtract line 3 from line 1. Free h&r block tax software 2011 If zero or less, enter -0- 7,000 Credit Limit Worksheet (Form 8863 instructions) Nonrefundable Credit Worksheet 1. Free h&r block tax software 2011 Enter the amount from Form 8863, line 18 1. Free h&r block tax software 2011 1,190 2. Free h&r block tax software 2011 Enter the amount from Form 8863, line 9 2. Free h&r block tax software 2011 1,500 3. Free h&r block tax software 2011 Add lines 1 and 2 3. Free h&r block tax software 2011 2,690 4. Free h&r block tax software 2011 Enter the amount from: Form 1040, line 46; or Form 1040A, line 28 4. Free h&r block tax software 2011 1,000 5. Free h&r block tax software 2011 Enter the amount from either: Form 1040, lines 47 and 48, and the amount from Schedule R included on Form 1040, line 53; or Form 1040A, lines 29 and 30 5. Free h&r block tax software 2011 0 6. Free h&r block tax software 2011 Subtract line 5 from line 4 6. Free h&r block tax software 2011 1,000 7. Free h&r block tax software 2011   Enter the smaller of line 3 or line 6 here and on Form 8863, line 19 7. Free h&r block tax software 2011 1,000 This image is too large to be displayed in the current screen. Free h&r block tax software 2011 Please click the link to view the image. Free h&r block tax software 2011 Form 8863 for Dave and Valerie Jones This image is too large to be displayed in the current screen. Free h&r block tax software 2011 Please click the link to view the image. Free h&r block tax software 2011 Carey Jones page 2 This image is too large to be displayed in the current screen. Free h&r block tax software 2011 Please click the link to view the image. Free h&r block tax software 2011 Filled-in Form 8863 Jones page 2 Appendix B. Free h&r block tax software 2011 Highlights of Education Tax Benefits for Tax Year 2013 This chart highlights some differences among the benefits discussed in this publication. Free h&r block tax software 2011 See the text for definitions and details. Free h&r block tax software 2011 Do not rely on this chart alone. Free h&r block tax software 2011    Caution:You generally cannot claim more than one benefit for the same education expense. Free h&r block tax software 2011   Scholarships,  Fellowships, Grants, and  Tuition  Reductions American Opportunity Credit Lifetime Learning Credit Student Loan Interest Deduction Tuition and Fees Deduction Coverdell ESA† Qualified Tuition Program (QTP)† Education Exception to Additional Tax on Early IRA Distributions† Education Savings Bond Program† Employer- Provided Educational Assistance† Business Deduction for Work-Related Education What is your  benefit? Amounts received may not be taxable   Credits can reduce the amount of tax you have to pay. Free h&r block tax software 2011    40% of the credit may be refundable (limited to $1,000 per student). Free h&r block tax software 2011 Credits can reduce amount of tax you must pay Can deduct interest paid Can deduct expenses Earnings not  taxed Earnings not taxed No 10%  additional tax on early distribution Interest not taxed Employer benefits not taxed Can deduct expenses What is the annual limit? None $2,500 credit per student $2,000 credit per tax return     $2,500 deduction $4,000 deduction $2,000 contribution per beneficiary None Amount of qualified  education expenses Amount of qualified  education expenses $5,250 exclusion Amount of qualifying work-related education expenses What expenses  qualify besides  tuition and required enrollment fees? Course-related expenses such as fees, books, supplies, and equipment Course-related books, supplies, and equipment Amounts paid for required books, etc. Free h&r block tax software 2011 , that must be paid to the educational institution, etc. Free h&r block tax software 2011 , are required fees Books Supplies Equipment  Room & board  Transportation  Other necessary expenses  None Books Supplies Equipment  Expenses for special needs services  Payments to QTP  Higher education: Room & board if  at least half-time  student  Elem/sec (K–12) education: Tutoring Room & board Uniforms Transportation Computer  access Supplementary expenses Books Supplies Equipment  Room & board if  at least half-time student  Expenses for special needs services Books Supplies Equipment  Room & board if  at least half-time student  Expenses for special needs services Payments to Coverdell ESA  Payments to QTP Books Supplies Equipment Transportation  Travel  Other necessary expenses   Scholarships,  Fellowships, Grants, and  Tuition  Reductions American Opportunity Credit Lifetime Learning Credit Student Loan Interest Deduction Tuition and Fees Deduction Coverdell ESA† Qualified Tuition Program (QTP)† Education Exception to Additional Tax on Early IRA Distributions† Education Savings Bond Program† Employer- Provided Educational Assistance† Business Deduction for Work-Related Education What education qualifies? Undergraduate & graduate  K–12 Undergraduate & graduate Undergraduate & graduate  Courses to acquire or improve job skills    Undergraduate & graduate Undergraduate & graduate Undergraduate & graduate  K–12 Undergraduate & graduate Undergraduate & graduate Undergraduate & graduate Undergraduate & graduate Required by employer or law to keep present job, salary, status  Maintain or improve job skills What are some of the other  conditions that  apply? Must be in degree or vocational program  Payment of tuition and required fees must be allowed under the grant Can be claimed for only 4 tax years (which includes years Hope Scholarship Credit claimed)  Must be enrolled at least half-time in degree program  No felony drug conviction(s)  Must not have completed first 4 years of postsecondary education before end of preceding tax year. Free h&r block tax software 2011   No other conditions Must have been at least half-time  student in degree program Cannot claim both deduction & education credit for same student in same year Assets must be distributed at age 30 unless special  needs beneficiary No other conditions No other conditions Applies only to qualified series  EE bonds issued after 1989 or series I bonds No other conditions Cannot be to  meet minimum educational requirements of present trade/business  Cannot qualify  you for new trade/business   In what income  range do benefits  phase out? No phaseout $80,000 – $90,000  $160,000 – $180,000 for joint returns $53,000 – $63,000  $107,000 – $127,000 for joint returns $60,000 – $75,000  $125,000 –  $155,000 for  joint returns  $60,000 – $80,000  $130,000 –  $160,000 for  joint returns  $95,000 – $110,000  $190,000 – $220,000 for  joint returns No phaseout No phaseout   No phaseout No phaseout † Any nontaxable distribution is limited to the amount that does not exceed qualified education expenses. Free h&r block tax software 2011 Glossary The education benefits included in this publication were enacted over many years, leading to a number of common terms being defined differently from one benefit to the next. Free h&r block tax software 2011 For example, an eligible educational institution means one thing when determining if earnings from a Coverdell education savings account are not taxable and something else when determining if a scholarship or fellowship is not taxable. Free h&r block tax software 2011 For each term listed below that has more than one definition, the definition for each education benefit is listed. Free h&r block tax software 2011 Academic period:   A semester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. Free h&r block tax software 2011 If an educational institution uses credit hours or clock hours and does not have academic terms, each payment period can be treated as an academic period. Free h&r block tax software 2011 Adjusted qualified education expenses (AQEE):    Qualified education expenses (defined later) reduced by any tax-free educational assistance, such as a tax-free scholarship or employer-provided educational assistance. Free h&r block tax software 2011 They must also be reduced by any qualified education expenses deducted elsewhere on your return, used to determine an education credit or other benefit, or used to determine a tax-free distribution. Free h&r block tax software 2011 For information on a specific benefit, see the appropriate chapter in this publication. Free h&r block tax software 2011 Candidate for a degree:   A student who meets either of the following requirements. Free h&r block tax software 2011 Attends a primary or secondary school or pursues a degree at a college or university, or Attends an accredited educational institution that is authorized to provide: A program that is acceptable for full credit toward a bachelor's or higher degree, or A program of training to prepare students for gainful employment in a recognized occupation. Free h&r block tax software 2011 Designated beneficiary:   The individual named in the document creating the account/plan who is to receive the benefit of the funds in the account/plan. Free h&r block tax software 2011 Eligible educational institution:    American opportunity credit. Free h&r block tax software 2011 Any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the Department of Education. Free h&r block tax software 2011 It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Free h&r block tax software 2011 Coverdell education savings account (ESA). Free h&r block tax software 2011 Any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the Department of Education. Free h&r block tax software 2011 It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Free h&r block tax software 2011 Also included is any public, private, or religious school that provides elementary or secondary education (kindergarten through grade 12), as determined under state law. Free h&r block tax software 2011 Education savings bond program. Free h&r block tax software 2011 Same as American opportunity credit in this category. Free h&r block tax software 2011 IRA, early distributions from. Free h&r block tax software 2011 Same as American opportunity credit in this category. Free h&r block tax software 2011 Lifetime learning credit. Free h&r block tax software 2011 Same as American opportunity credit in this category. Free h&r block tax software 2011 Qualified tuition program (QTP). Free h&r block tax software 2011 Same as American opportunity credit in this category. Free h&r block tax software 2011 Scholarships and fellowships. Free h&r block tax software 2011 An institution that maintains a regular faculty and curriculum and normally has a regularly enrolled body of students in attendance at the place where it carries on its educational activities. Free h&r block tax software 2011 Student loan, cancellation of. Free h&r block tax software 2011 Same as Scholarships and fellowships in this category. Free h&r block tax software 2011 Student loan interest deduction. Free h&r block tax software 2011 Any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the Department of Education. Free h&r block tax software 2011 It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Free h&r block tax software 2011 Also included is an institution that conducts an internship or residency program leading to a degree or certificate from an institution of higher education, a hospital, or a health care facility that offers postgraduate training. Free h&r block tax software 2011 Tuition and fees deduction. Free h&r block tax software 2011 Same as American opportunity credit in this category. Free h&r block tax software 2011 Eligible student:    American opportunity credit. Free h&r block tax software 2011 A student who meets all of the following requirements for the tax year for which the credit is being determined. Free h&r block tax software 2011 Did not have expenses that were used to figure an American opportunity or Hope Scholarship Credit in any 4 earlier tax years. Free h&r block tax software 2011 Had not completed the first 4 years of postsecondary education (generally the freshman through senior years). Free h&r block tax software 2011 For at least one academic period beginning in the tax year, was enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential at an eligible educational institution. Free h&r block tax software 2011 Was free of any federal or state felony conviction for possessing or distributing a controlled substance as of the end of the tax year. Free h&r block tax software 2011 Lifetime learning credit. Free h&r block tax software 2011 A student who is enrolled in one or more courses at an eligible educational institution. Free h&r block tax software 2011 Student loan interest deduction. Free h&r block tax software 2011 A student who was enrolled at least half-time in a program leading to a postsecondary degree, certificate, or other recognized educational credential at an eligible educational institution. Free h&r block tax software 2011 Tuition and fees deduction. Free h&r block tax software 2011 A student who is enrolled in one or more courses at an eligible educational institution. Free h&r block tax software 2011 Half-time student:   A student who is enrolled for at least half the full-time academic work load for the course of study the student is pursuing, as determined under the standards of the school where the student is enrolled. Free h&r block tax software 2011 Modified adjusted gross income (MAGI):    American opportunity credit. Free h&r block tax software 2011 Adjusted gross income (AGI) as figured on the federal income tax return, modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. Free h&r block tax software 2011 Coverdell education savings account (ESA). Free h&r block tax software 2011 Same as American opportunity credit in this category. Free h&r block tax software 2011 Education savings bond program. Free h&r block tax software 2011 Adjusted gross income (AGI) as figured on the federal income tax return without taking into account any savings bond interest exclusion and modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, Exclusion of income by bona fide residents of Puerto Rico, Exclusion for adoption benefits received under an employer's adoption assistance program, Deduction for student loan interest, Deduction for tuition and fees, and Deduction for domestic production activities. Free h&r block tax software 2011 Lifetime learning credit. Free h&r block tax software 2011 Same as American opportunity credit in this category. Free h&r block tax software 2011 Student loan interest deduction. Free h&r block tax software 2011 Adjusted gross income (AGI) as figured on the federal income tax return without taking into account any student loan interest deduction, tuition and fees deduction, or domestic production activities deduction, and modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. Free h&r block tax software 2011 Tuition and fees deduction. Free h&r block tax software 2011 Adjusted gross income (AGI) as figured on the federal income tax return without taking into account any tuition and fees deduction, or domestic production activities deduction, and modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. Free h&r block tax software 2011 Phaseout:   The amount of credit or deduction allowed is reduced when modified adjusted gross income (MAGI) is greater than a specified amount of income. Free h&r block tax software 2011 Qualified education expenses:   See pertinent chapter for specific items. Free h&r block tax software 2011    American opportunity credit. Free h&r block tax software 2011 Tuition and certain related expenses (including student activity fees) required for enrollment or attendance at an eligible educational institution. Free h&r block tax software 2011 Books, supplies, and equipment needed for a course of study are included even if not purchased from the educational institution. Free h&r block tax software 2011 Does not include expenses for room and board. Free h&r block tax software 2011 Does not include expenses for courses involving sports, games, or hobbies (including noncredit courses) that are not part of the student's postsecondary degree program. Free h&r block tax software 2011 Coverdell education savings account (ESA). Free h&r block tax software 2011 Expenses related to or required for enrollment or attendance of the designated beneficiary at an eligible elementary, secondary, or postsecondary school. Free h&r block tax software 2011 Many specialized expenses included for K–12. Free h&r block tax software 2011 Also includes expenses for special needs services and contribution to qualified tuition program (QTP). Free h&r block tax software 2011 Education savings bond program. Free h&r block tax software 2011 Tuition and fees required to enroll at or attend an eligible educational institution. Free h&r block tax software 2011 Also includes contributions to a qualified tuition program (QTP) or Coverdell education savings account (ESA). Free h&r block tax software 2011 Does not include expenses for room and board. Free h&r block tax software 2011 Does not include expenses for courses involving sports, games, or hobbies that are not part of a degree or certificate granting program. Free h&r block tax software 2011 IRA, early distributions from. Free h&r block tax software 2011 Tuition, fees, books, supplies, and equipment required for enrollment or attendance at an eligible educational institution, plus certain limited costs of room and board for students who are enrolled at least half-time. Free h&r block tax software 2011 Also includes expenses for special needs services incurred by or for special needs students in connection with their enrollment or attendance. Free h&r block tax software 2011 Lifetime learning credit. Free h&r block tax software 2011 Tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Free h&r block tax software 2011 Student-activity fees and expenses for course-related books, supplies, and equipment are included only if the fees and expenses must be paid to the institution as a condition of enrollment or attendance. Free h&r block tax software 2011 Does not include expenses for room and board. Free h&r block tax software 2011 Does not include expenses for courses involving sports, games, or hobbies (including noncredit courses) that are not part of the student's postsecondary degree program, unless taken by the student to acquire or improve job skills. Free h&r block tax software 2011 Qualified tuition program (QTP). Free h&r block tax software 2011 Tuition, fees, books, supplies, and equipment required for enrollment or attendance at an eligible educational institution, plus certain limited costs of room and board for students who are enrolled at least half-time. Free h&r block tax software 2011 Includes expenses for special needs services and computer access. Free h&r block tax software 2011 Scholarships and fellowships. Free h&r block tax software 2011 Expenses for tuition and fees required to enroll at or attend an eligible educational institution, and course-related expenses, such as fees, books, supplies, and equipment that are required for the courses at the eligible educational institution. Free h&r block tax software 2011 Course-related items must be required of all students in the course of instruction. Free h&r block tax software 2011 Student loan interest deduction. Free h&r block tax software 2011 Total costs of attending an eligible educational institution, including graduate school (however, limitations may apply to the cost of room and board allowed). Free h&r block tax software 2011 Tuition and fees deduction. Free h&r block tax software 2011 Tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Free h&r block tax software 2011 Student-activity fees and expenses for course-related books, supplies, and equipment are included only if the fees and expenses must be paid to the institution as a condition of enrollment or attendance. Free h&r block tax software 2011 Recapture:   To include as income on your current year's return an amount allowed as a deduction in a prior year. Free h&r block tax software 2011 To include as tax on your current year's return an amount allowed as a credit in a prior year. Free h&r block tax software 2011 Rollover:   A tax-free distribution to you of cash or other assets from a tax-favored plan that you contribute to another tax-favored plan. Free h&r block tax software 2011 Transfer:   A movement of funds in a tax-favored plan from one trustee directly to another, either at your request or at the trustee's request. Free h&r block tax software 2011 Prev  Up  Next   Home   More Online Publications