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H R Block Tax Preparation

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H R Block Tax Preparation

H r block tax preparation 19. H r block tax preparation   Education- Related Adjustments Table of Contents Introduction Useful Items - You may want to see: Student Loan Interest DeductionStudent Loan Interest Defined Can You Claim the Deduction How Much Can You Deduct How Do You Figure the Deduction Tuition and Fees DeductionCan You Claim the Deduction What Expenses Qualify Who Is an Eligible Student Who Can Claim a Dependent's Expenses How Much Can You Deduct Educator Expenses Introduction This chapter discusses the education-related adjustment you can deduct in figuring your adjusted gross income. H r block tax preparation This chapter covers the student loan interest deduction, tuition and fees deduction, and the deduction for educator expenses. H r block tax preparation Useful Items - You may want to see: Publication 970 Tax Benefits for Education Student Loan Interest Deduction Generally, personal interest you pay, other than certain mortgage interest, is not deductible on your tax return. H r block tax preparation However, if your modified adjusted gross income (MAGI) is less than $75,000 ($155,000 if filing a joint return) there is a special deduction allowed for paying interest on a student loan (also known as an education loan) used for higher education. H r block tax preparation For most taxpayers, MAGI is the adjusted gross income as figured on their federal income tax return before subtracting any deduction for student loan interest. H r block tax preparation This deduction can reduce the amount of your income subject to tax by up to $2,500 in 2013. H r block tax preparation Table 19-1 summarizes the features of the student loan interest deduction. H r block tax preparation Table 19-1. H r block tax preparation Student Loan Interest Deduction at a Glance Do not rely on this table alone. H r block tax preparation Refer to the text for more details. H r block tax preparation Feature Description Maximum benefit You can reduce your income subject to tax by up to $2,500. H r block tax preparation Loan qualifications Your student loan: •  must have been taken out solely to pay qualified education expenses, and   • cannot be from a related person or made under a qualified employer plan. H r block tax preparation Student qualifications The student must be: • you, your spouse, or your dependent, and   • enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential at an eligible educational institution. H r block tax preparation Time limit on deduction You can deduct interest paid during the remaining period of your student loan. H r block tax preparation Phaseout The amount of your deduction depends on your income level. H r block tax preparation Student Loan Interest Defined Student loan interest is interest you paid during the year on a qualified student loan. H r block tax preparation It includes both required and voluntary interest payments. H r block tax preparation Qualified Student Loan This is a loan you took out solely to pay qualified education expenses (defined later) that were: For you, your spouse, or a person who was your dependent (defined in chapter 3) when you took out the loan, Paid or incurred within a reasonable period of time before or after you took out the loan, and For education provided during an academic period when the student is an eligible student. H r block tax preparation Loans from the following sources are not qualified student loans. H r block tax preparation A related person. H r block tax preparation A qualified employer plan. H r block tax preparation Exceptions. H r block tax preparation   For purposes of the student loan interest deduction, the following are exceptions to the general rules for dependents. H r block tax preparation An individual can be your dependent even if you are the dependent of another taxpayer. H r block tax preparation An individual can be your dependent even if the individual files a joint return with a spouse. H r block tax preparation An individual can be your dependent even if the individual had gross income for the year that was equal to or more than the exemption amount for the year ($3,900 for 2013). H r block tax preparation    Reasonable period of time. H r block tax preparation   Qualified education expenses are treated as paid or incurred within a reasonable period of time before or after you take out the loan if they are paid with the proceeds of student loans that are part of a federal postsecondary education loan program. H r block tax preparation   Even if not paid with the proceeds of that type of loan, the expenses are treated as paid or incurred within a reasonable period of time if both of the following requirements are met. H r block tax preparation The expenses relate to a specific academic period. H r block tax preparation The loan proceeds are disbursed within a period that begins 90 days before the start of that academic period and ends 90 days after the end of that academic period. H r block tax preparation   If neither of the above situations applies, the reasonable period of time is determined based on all the relevant facts and circumstances. H r block tax preparation Academic period. H r block tax preparation   An academic period includes a semester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. H r block tax preparation In the case of an educational institution that uses credit hours or clock hours and does not have academic terms, each payment period can be treated as an academic period. H r block tax preparation Eligible student. H r block tax preparation   This is a student who was enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential. H r block tax preparation Enrolled at least half-time. H r block tax preparation   A student was enrolled at least half-time if the student was taking at least half the normal full-time work load for his or her course of study. H r block tax preparation   The standard for what is half of the normal full-time work load is determined by each eligible educational institution. H r block tax preparation However, the standard may not be lower than any of those established by the U. H r block tax preparation S. H r block tax preparation Department of Education under the Higher Education Act of 1965. H r block tax preparation Related person. H r block tax preparation   You cannot deduct interest on a loan you get from a related person. H r block tax preparation Related persons include: Your spouse, Your brothers and sisters, Your half brothers and half sisters, Your ancestors (parents, grandparents, etc. H r block tax preparation ), Your lineal descendants (children, grandchildren, etc. H r block tax preparation ), and Certain corporations, partnerships, trusts, and exempt organizations. H r block tax preparation Qualified employer plan. H r block tax preparation   You cannot deduct interest on a loan made under a qualified employer plan or under a contract purchased under such a plan. H r block tax preparation Qualified Education Expenses For purposes of the student loan interest deduction, these expenses are the total costs of attending an eligible educational institution, including graduate school. H r block tax preparation They include amounts paid for the following items. H r block tax preparation Tuition and fees. H r block tax preparation Room and board. H r block tax preparation Books, supplies, and equipment. H r block tax preparation Other necessary expenses (such as transportation). H r block tax preparation The cost of room and board qualifies only to the extent that it is not more than: The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student, or If greater, the actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. H r block tax preparation Eligible educational institution. H r block tax preparation   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. H r block tax preparation S. H r block tax preparation Department of Education. H r block tax preparation It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. H r block tax preparation   Certain educational institutions located outside the United States also participate in the U. H r block tax preparation S. H r block tax preparation Department of Education's Federal Student Aid (FSA) programs. H r block tax preparation   For purposes of the student loan interest deduction, an eligible educational institution also includes an institution conducting 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. H r block tax preparation   An educational institution must meet the above criteria only during the academic period(s) for which the student loan was incurred. H r block tax preparation The deductibility of interest on the loan is not affected by the institution's subsequent loss of eligibility. H r block tax preparation    The educational institution should be able to tell you if it is an eligible educational institution. H r block tax preparation Adjustments to qualified education expenses. H r block tax preparation   You must reduce your qualified education expenses by certain tax-free items (such as the tax-free part of scholarships and fellowships). H r block tax preparation See chapter 4 of Publication 970 for details. H r block tax preparation Include as Interest In addition to simple interest on the loan, certain loan origination fees, capitalized interest, interest on revolving lines of credit, and interest on refinanced student loans can be student loan interest if all other requirements are met. H r block tax preparation Loan origination fee. H r block tax preparation   In general, this is a one-time fee charged by the lender when a loan is made. H r block tax preparation To be deductible as interest, the fee must be for the use of money rather than for property or services (such as commitment fees or processing costs) provided by the lender. H r block tax preparation A loan origination fee treated as interest accrues over the life of the loan. H r block tax preparation Capitalized interest. H r block tax preparation    This is unpaid interest on a student loan that is added by the lender to the outstanding principal balance of the loan. H r block tax preparation Interest on revolving lines of credit. H r block tax preparation   This interest, which includes interest on credit card debt, is student loan interest if the borrower uses the line of credit (credit card) only to pay qualified education expenses. H r block tax preparation See Qualified Education Expenses , earlier. H r block tax preparation Interest on refinanced student loans. H r block tax preparation   This includes interest on both: Consolidated loans—loans used to refinance more than one student loan of the same borrower, and Collapsed loans—two or more loans of the same borrower that are treated by both the lender and the borrower as one loan. H r block tax preparation If you refinance a qualified student loan for more than your original loan and you use the additional amount for any purpose other than qualified education expenses, you cannot deduct any interest paid on the refinanced loan. H r block tax preparation Voluntary interest payments. H r block tax preparation   These are payments made on a qualified student loan during a period when interest payments are not required, such as when the borrower has been granted a deferment or the loan has not yet entered repayment status. H r block tax preparation Do Not Include as Interest You cannot claim a student loan interest deduction for any of the following items. H r block tax preparation Interest you paid on a loan if, under the terms of the loan, you are not legally obligated to make interest payments. H r block tax preparation Loan origination fees that are payments for property or services provided by the lender, such as commitment fees or processing costs. H r block tax preparation Interest you paid on a loan to the extent payments were made through your participation in the National Health Service Corps Loan Repayment Program (the “NHSC Loan Repayment Program”) or certain other loan repayment assistance programs. H r block tax preparation For more information, see Student Loan Repayment Assistance in chapter 5 of Publication 970. H r block tax preparation Can You Claim the Deduction Generally, you can claim the deduction if all of the following requirements are met. H r block tax preparation Your filing status is any filing status except married filing separately. H r block tax preparation No one else is claiming an exemption for you on his or her tax return. H r block tax preparation You are legally obligated to pay interest on a qualified student loan. H r block tax preparation You paid interest on a qualified student loan. H r block tax preparation Interest paid by others. H r block tax preparation   If you are the person legally obligated to make interest payments and someone else makes a payment of interest on your behalf, you are treated as receiving the payments from the other person and, in turn, paying the interest. H r block tax preparation See chapter 4 of Publication 970 for more information. H r block tax preparation No Double Benefit Allowed You cannot deduct as interest on a student loan any amount that is an allowable deduction under any other provision of the tax law (for example, home mortgage interest). H r block tax preparation How Much Can You Deduct Your student loan interest deduction for 2013 is generally the smaller of: $2,500, or The interest you paid in 2013. H r block tax preparation However, the amount determined above is phased out (gradually reduced) if your MAGI is between $60,000 and $75,000 ($125,000 and $155,000 if you file a joint return). H r block tax preparation You cannot take a student loan interest deduction if your MAGI is $75,000 or more ($155,000 or more if you file a joint return). H r block tax preparation For details on figuring your MAGI, see chapter 4 of Publication 970. H r block tax preparation How Do You Figure the Deduction Generally, you figure the deduction using the Student Loan Interest Deduction Worksheet in the Form 1040 or Form 1040A instructions. H r block tax preparation However, if you are filing Form 2555, 2555-EZ, or 4563, or you are excluding income from sources within Puerto Rico, you must complete Worksheet 4-1 in chapter 4 of Publication 970. H r block tax preparation To help you figure your student loan interest deduction, you should receive Form 1098-E, Student Loan Interest Statement. H r block tax preparation Generally, an institution (such as a bank or governmental agency) that received interest payments of $600 or more during 2013 on one or more qualified student loans must send Form 1098-E (or acceptable substitute) to each borrower by January 31, 2014. H r block tax preparation For qualified student loans taken out before September 1, 2004, the institution is required to include on Form 1098-E only payments of stated interest. H r block tax preparation Other interest payments, such as certain loan origination fees and capitalized interest, may not appear on the form you receive. H r block tax preparation However, if you pay qualifying interest that is not included on Form 1098-E, you can also deduct those amounts. H r block tax preparation For information on allocating payments between interest and principal, see chapter 4 of Publication 970. H r block tax preparation To claim the deduction, enter the allowable amount on Form 1040, line 33, or Form 1040A, line 18. H r block tax preparation Tuition and Fees Deduction You may be able to deduct qualified education expenses paid during the year for yourself, your spouse, or your dependent(s). H r block tax preparation You cannot claim this deduction if your filing status is married filing separately or if another person can claim an exemption for you as a dependent on his or her tax return. H r block tax preparation The qualified expenses must be for higher education, as explained later under What Expenses Qualify . H r block tax preparation The tuition and fees deduction can reduce the amount of your income subject to tax by up to $4,000. H r block tax preparation Table 19-2 summarizes the features of the tuition and fees deduction. H r block tax preparation You may be able to take a credit for your education expenses instead of a deduction. H r block tax preparation You can choose the one that will give you the lower tax. H r block tax preparation See chapter 35, Education Credits, for details about the credits. H r block tax preparation Can You Claim the Deduction The following rules will help you determine if you can claim the tuition and fees deduction. H r block tax preparation Who Can Claim the Deduction Generally, you can claim the tuition and fees deduction if all three of the following requirements are met. H r block tax preparation You paid qualified education expenses of higher education in 2013 for academic periods beginning in 2013 and those beginning in the first three months of 2014. H r block tax preparation You paid the education expenses for an eligible student. H r block tax preparation The eligible student is yourself, your spouse, or your dependent for whom you claim an exemption (defined in chapter 3) on your tax return. H r block tax preparation Qualified education expenses are defined under What Expenses Qualify . H r block tax preparation Eligible students are defined later under Who Is an Eligible Student . H r block tax preparation Who Cannot Claim the Deduction You cannot claim the tuition and fees deduction if any of the following apply. H r block tax preparation Your filing status is married filing separately. H r block tax preparation Another person can claim an exemption for you as a dependent on his or her tax return. H r block tax preparation You cannot take the deduction even if the other person does not actually claim that exemption. H r block tax preparation Your modified adjusted gross income (MAGI) is more than $80,000 ($160,000 if filing a joint return). H r block tax preparation You (or your spouse) were a nonresident alien for any part of 2013 and the nonresident alien did not elect to be treated as a resident alien for tax purposes. H r block tax preparation More information on nonresident aliens can be found in Publication 519, U. H r block tax preparation S. H r block tax preparation Tax Guide for Aliens. H r block tax preparation You or anyone else claims an American opportunity or lifetime learning credit in 2013 with respect to expenses of the student for whom the qualified education expenses were paid. H r block tax preparation However, a state tax credit will not disqualify you from claiming a tuition and fees deduction. H r block tax preparation Table 19-2. H r block tax preparation Tuition and Fees Deduction at a Glance Do not rely on this table alone. H r block tax preparation Refer to the text for more details. H r block tax preparation Question   Answer What is the maximum benefit?   You can reduce your income subject to tax by up to $4,000. H r block tax preparation Where is the deduction taken?   As an adjustment to income on Form 1040, line 34, or Form 1040A, line 19. H r block tax preparation For whom must the expenses be paid?   A student enrolled in an eligible educational institution who is either: you, your spouse, or your dependent for whom you claim an exemption. H r block tax preparation What tuition and fees are deductible?   Tuition and fees required for enrollment or attendance at an eligible postsecondary educational institution, but not including personal, living, or family expenses, such as room and board. H r block tax preparation What Expenses Qualify The tuition and fees deduction is based on qualified education expenses you pay for yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. H r block tax preparation Generally, the deduction is allowed for qualified education expenses paid in 2013 in connection with enrollment at an institution of higher education during 2013 or for an academic period (defined earlier under Student Loan Interest Deduction ) beginning in 2013 or in the first 3 months of 2014. H r block tax preparation Payments with borrowed funds. H r block tax preparation   You can claim a tuition and fees deduction for qualified education expenses paid with the proceeds of a loan. H r block tax preparation Use the expenses to figure the deduction for the year in which the expenses are paid, not the year in which the loan is repaid. H r block tax preparation Treat loan payments sent directly to the educational institution as paid on the date the institution credits the student's account. H r block tax preparation Student withdraws from class(es). H r block tax preparation   You can claim a tuition and fees deduction for qualified education expenses not refunded when a student withdraws. H r block tax preparation Qualified Education Expenses For purposes of the tuition and fees deduction, qualified education expenses are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. H r block tax preparation Eligible educational institution. H r block tax preparation   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. H r block tax preparation S. H r block tax preparation Department of Education. H r block tax preparation It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. H r block tax preparation The educational institution should be able to tell you if it is an eligible educational institution. H r block tax preparation   Certain educational institutions located outside the United States also participate in the U. H r block tax preparation S. H r block tax preparation Department of Education's Federal Student Aid (FSA) programs. H r block tax preparation Academic period. H r block tax preparation    An academic period is any quarter, semester, trimester, or any other period of study as reasonably determined by an eligible educational institution. H r block tax preparation If an eligible educational institution uses credit hours and does not have academic terms, each payment period may be treated as an academic period. H r block tax preparation Related expenses. H r block tax preparation   Student-activity fees and expenses for course-related books, supplies, and equipment are included in qualified education expenses for the tuition and fees deduction only if the fees and expenses must be paid to the institution as a condition of enrollment or attendance. H r block tax preparation Prepaid expenses. H r block tax preparation   Qualified education expenses paid in 2013 for an academic period that begins in the first three months of 2014 can be used in figuring the tuition and fees deduction. H r block tax preparation See Academic period, earlier. H r block tax preparation For example, if you pay $2,000 in December 2013 for qualified tuition for the 2014 winter quarter that begins in January 2014, you can use that $2,000 in figuring the tuition and fees deduction for 2013 only if you meet all the other requirements. H r block tax preparation    You cannot use any amount you paid in 2012 or 2014 to figure the qualified education expenses you use to figure your 2013 tuition and fees deduction. H r block tax preparation No Double Benefit Allowed You cannot do any of the following. H r block tax preparation Deduct qualified education expenses you deduct under any other provision of the law, for example, as a business expense. H r block tax preparation Deduct qualified education expenses for a student on your income tax return if you or anyone else claims an American opportunity or lifetime learning credit for that same student in the same year. H r block tax preparation Deduct qualified education expenses that have been used to figure the tax-free portion of a distribution from a Coverdell education savings account (ESA) or a qualified tuition program (QTP). H r block tax preparation For a QTP, this applies only to the amount of tax-free earnings that were distributed, not to the recovery of contributions to the program. H r block tax preparation See Figuring the Taxable Portion of a Distribution in chapter 7 (Coverdell ESA) and chapter 8 (QTP) of Publication 970. H r block tax preparation Deduct qualified education expenses that have been paid with tax-free interest on U. H r block tax preparation S. H r block tax preparation savings bonds (Form 8815). H r block tax preparation See Figuring the Tax-Free Amount in chapter 10 of Publication 970. H r block tax preparation Deduct qualified education expenses that have been paid with tax-free educational assistance such as a scholarship, grant, or employer-provided educational assistance. H r block tax preparation See Adjustments to qualified education expenses, later. H r block tax preparation Adjustments to qualified education expenses. H r block tax preparation   For each student, reduce the qualified education expenses paid by or on behalf of that student under the following rules. H r block tax preparation The result is the amount of adjusted qualified education expenses for each student. H r block tax preparation Tax-free educational assistance. H r block tax preparation   For tax-free educational assistance you received in 2013, reduce the qualified educational expenses for each academic period by the amount of tax-free educational assistance to that academic period. H r block tax preparation See Academic period, earlier. H r block tax preparation   This includes: The tax-free part of scholarships and fellowships, including Pell grants (see chapter 1 of Publication 970), The tax-free part of any employer-provided educational assistance (see chapter 11 of Publication 970), Veterans' educational assistance (see chapter 1 of Publication 970), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. H r block tax preparation Generally, any scholarship or fellowship you receive is treated as tax-free educational assistance. H r block tax preparation However, a scholarship or fellowship is not treated as tax-free educational assistance to the extent you include it in gross income (if you are required to file a tax return) for the year the scholarship or fellowship is received and either: The scholarship or fellowship (or any part of it) must be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in Pub. H r block tax preparation 970, chapter 1. H r block tax preparation The scholarship or fellowship (or any part of it) may be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in Pub. H r block tax preparation 970, chapter 1. H r block tax preparation You may be able to increase the combined value of your tuition and fees deduction and certain educational assistance if you include some or all of the educational assistance in income in the year it is received. H r block tax preparation For details, see Adjustments to Qualified Education Expenses in chapter 6 of Pub. H r block tax preparation 970. H r block tax preparation Some tax-free educational assistance received in 2013 may be treated as a refund of qualified education expenses paid in 2013. H r block tax preparation This tax-free educational assistance is any tax-free educational assistance received by you or anyone else after 2013 for qualified education expenses paid on behalf of a student in 2013 (or attributable to enrollment at an eligible educational institution during 2013). H r block tax preparation If this tax-free educational assistance is received after 2013 but before you file your 2013 income tax return, see Refunds received after 2013 but before your income tax return is filed, later. H r block tax preparation If this tax-free educational assistance is received after 2013 and after you file your 2013 income tax return, see Refunds received after 2013 and after your income tax return is filed, later. H r block tax preparation Refunds. H r block tax preparation   A refund of qualified education expenses may reduce adjusted qualified education expenses for the tax year or may require you to include some or all of the refund in your gross income for the year the refund is received. H r block tax preparation See chapter 6 of Pub. H r block tax preparation 970 for more information. H r block tax preparation Some tax-free educational assistance received after 2013 may be treated as a refund. H r block tax preparation See Tax-free educational assistance, earlier. H r block tax preparation Refunds received in 2013. H r block tax preparation    For each student, figure the adjusted qualified education expenses for 2013 by adding all the qualified education expenses paid in 2013 and subtracting any refunds of those expenses received from the eligible educational institution during 2013. H r block tax preparation Refunds received after 2013 but before your income tax return is filed. H r block tax preparation   If you receive a refund after 2013 of qualified education expenses you paid in 2013 and the refund is received before you file your 2013 income tax return, reduce the amount of qualified education expenses for 2013 by the amount of the refund. H r block tax preparation Refunds received after 2013 and after your income tax return is filed. H r block tax preparation   If you receive a refund after 2013 of qualified education expenses you paid in 2013 and the refund is received after you file your 2013 income tax return, you may need to include some or all of the refund in your gross income for the year the refund is received. H r block tax preparation See chapter 6 of Pub. H r block tax preparation 970 for more information. H r block tax preparation Coordination with Coverdell education savings accounts and qualified tuition programs. H r block tax preparation    Reduce your qualified education expenses by any qualified education expenses used to figure the exclusion from gross income of (a) interest received under an education savings bond program, or (b) any distribution from a Coverdell education savings account or qualified tuition program (QTP). H r block tax preparation For a QTP, this applies only to the amount of tax-free earnings that were distributed, not to the recovery of contributions to the program. H r block tax preparation Amounts that do not reduce qualified education expenses. H r block tax preparation   Do not reduce qualified education expenses by amounts paid with funds the student receives as: Payment for services, such as wages, A loan, A gift, An inheritance, or A withdrawal from the student's personal savings. H r block tax preparation   Do not reduce the qualified education expenses by any scholarship or fellowship reported as income on the student's tax return in the following situations. H r block tax preparation The use of the money is restricted, by the terms of the scholarship or fellowship, to costs of attendance (such as room and board) other than qualified education expenses. H r block tax preparation The use of the money is not restricted. H r block tax preparation Expenses That Do Not Qualify Qualified education expenses do not include amounts paid for: Insurance, Medical expenses (including student health fees), Room and board, Transportation, or Similar personal, living, or family expenses. H r block tax preparation This is true even if the amount must be paid to the institution as a condition of enrollment or attendance. H r block tax preparation Sports, games, hobbies, and noncredit courses. H r block tax preparation   Qualified education expenses generally do not include expenses that relate to any course of instruction or other education that involves sports, games or hobbies, or any noncredit course. H r block tax preparation However, if the course of instruction or other education is part of the student's degree program, these expenses can qualify. H r block tax preparation Comprehensive or bundled fees. H r block tax preparation   Some eligible educational institutions combine all of their fees for an academic period into one amount. H r block tax preparation If you do not receive, or do not have access to, an allocation showing how much you paid for qualified education expenses and how much you paid for personal expenses, such as those listed above, contact the institution. H r block tax preparation The institution is required to make this allocation and provide you with the amount you paid (or were billed) for qualified education expenses on Form 1098-T, Tuition Statement. H r block tax preparation See How Do You Figure the Deduction , later, for more information about Form 1098-T. H r block tax preparation Who Is an Eligible Student For purposes of the tuition and fees deduction, an eligible student is a student who is enrolled in one or more courses at an eligible educational institution (defined earlier). H r block tax preparation Who Can Claim a Dependent's Expenses Generally, in order to claim the tuition and fees deduction for qualified education expenses for a dependent, you must: Have paid the expenses, and Claim an exemption for the student as a dependent. H r block tax preparation Table 19-3 summarizes who can claim the deduction. H r block tax preparation How Much Can You Deduct The maximum tuition and fees deduction in 2013 is $4,000, $2,000, or $0, depending on the amount of your MAGI. H r block tax preparation For details on figuring your MAGI, see chapter 6 of Publication 970. H r block tax preparation How Do You Figure the Deduction Figure the deduction using Form 8917. H r block tax preparation To help you figure your tuition and fees deduction, you should receive Form 1098-T, Tuition Statement. H r block tax preparation Generally, an eligible educational institution (such as a college or university) must send Form 1098-T (or acceptable substitute) to each enrolled student by January 31, 2014. H r block tax preparation To claim the deduction, enter the allowable amount on Form 1040, line 34, or Form 1040A, line 19, and attach your completed Form 8917. H r block tax preparation Table 19-3. H r block tax preparation Who Can Claim a Dependent's Expenses Do not rely on this table alone. H r block tax preparation See Who Can Claim a Dependent's Expenses in chapter 6 of Publication 970. H r block tax preparation IF your dependent is an eligible student and you. H r block tax preparation . H r block tax preparation . H r block tax preparation AND. H r block tax preparation . H r block tax preparation . H r block tax preparation THEN. H r block tax preparation . H r block tax preparation . H r block tax preparation claim an exemption for your dependent you paid all qualified education expenses for your dependent only you can deduct the qualified education expenses that you paid. H r block tax preparation Your dependent cannot take a deduction. H r block tax preparation claim an exemption for your dependent your dependent paid all qualified education expenses no one is allowed to take a deduction. H r block tax preparation do not claim an exemption for your dependent you paid all qualified education expenses no one is allowed to take a deduction. H r block tax preparation do not claim an exemption for your dependent your dependent paid all qualified education expenses no one is allowed to take a deduction. H r block tax preparation Educator Expenses If you were an eligible educator in 2013, you can deduct on Form 1040, line 23, or Form 1040A, line 16, up to $250 of qualified expenses you paid in 2013. H r block tax preparation If you and your spouse are filing jointly and both of you were eligible educators, the maximum deduction is $500. H r block tax preparation However, neither spouse can deduct more than $250 of his or her qualified expenses on Form 1040, line 23, or Form 1040A, line 16. H r block tax preparation You may be able to deduct expenses that are more than the $250 (or $500) limit on Schedule A (Form 1040), line 21. H r block tax preparation Eligible educator. H r block tax preparation   An eligible educator is a kindergarten through grade 12 teacher, instructor, counselor, principal, or aide who worked in a school for at least 900 hours during a school year. H r block tax preparation Qualified expenses. H r block tax preparation   Qualified expenses include ordinary and necessary expenses paid in connection with books, supplies, equipment (including computer equipment, software, and services), and other materials used in the classroom. H r block tax preparation An ordinary expense is one that is common and accepted in your educational field. H r block tax preparation A necessary expense is one that is helpful and appropriate for your profession as an educator. H r block tax preparation An expense does not have to be required to be considered necessary. H r block tax preparation   Qualified expenses do not include expenses for home schooling or for nonathletic supplies for courses in health or physical education. H r block tax preparation   You must reduce your qualified expenses by the following amounts. H r block tax preparation Excludable U. H r block tax preparation S. H r block tax preparation series EE and I savings bond interest from Form 8815. H r block tax preparation See Figuring the Tax-Free Amount in chapter 10 of Publication 970. H r block tax preparation Nontaxable qualified tuition program earnings or distributions. H r block tax preparation See Figuring the Taxable Portion of a Distribution in chapter 8 of Publication 970. H r block tax preparation Nontaxable distribution of earnings from a Coverdell education savings account. H r block tax preparation See Figuring the Taxable Portion of a Distribution in chapter 7 of Publication 970. H r block tax preparation Any reimbursements you received for these expenses that were not reported to you in box 1 of your Form W-2. H r block tax preparation Prev  Up  Next   Home   More Online Publications
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The H R Block Tax Preparation

H r block tax preparation Index A Accounting method: Accrual method, Accounting Method Cash method, Accounting Method Assistance (see Tax help) B Business: Expenses, Business Expenses Start-up costs, Business Start-Up Costs Use of car, Car and Truck Expenses Use of home, Business Use of Your Home C Car and truck expenses, Car and Truck Expenses Corporation, Corporations. H r block tax preparation D Depositing taxes, Depositing Taxes Depreciation, Depreciation E Employer identification number (EIN), Employer Identification Number (EIN) Employment taxes: Defined, Employment Taxes Records to keep, Employment taxes. H r block tax preparation Estimated tax, Estimated tax. H r block tax preparation Excise taxes, Excise Taxes F Form: 1099-MISC, Form 1099-MISC. H r block tax preparation 11-C, Form 11-C. H r block tax preparation 1128, Changing your tax year. H r block tax preparation 2290, Form 2290. H r block tax preparation 720, Form 720. H r block tax preparation 730, Form 730. H r block tax preparation 8300, Form 8300. H r block tax preparation 8829, Which form do I file? I-9, Form I-9. H r block tax preparation SS-4, Applying for an EIN. H r block tax preparation W-2, Form W-2 Wage Reporting, Form W-2. H r block tax preparation W-4, Form W-4. H r block tax preparation W-9, Other payee. H r block tax preparation FUTA tax, Federal Unemployment (FUTA) Tax H Help (see Tax help) Help from Small Business Administration, Small Business Administration I Identification numbers, Identification Numbers Income tax, Income Tax, Federal Income, Social Security, and Medicare Taxes Information returns, Information Returns Inventories, Accounting Method L Limited liability company, Limited liability company. H r block tax preparation M Medicare tax, Federal Income, Social Security, and Medicare Taxes More Information (see Tax help) More information (see Tax help) O Office in home, Business Use of Your Home P Partnership, Partnerships. H r block tax preparation Penalties, Penalties Publications (see Tax help) R Recordkeeping, Recordkeeping Records, how long to keep, How Long To Keep Records S S corporation, S corporations. H r block tax preparation Self-employment tax, Self-Employment Tax Small Business Administration, Small Business Administration Social security tax, Federal Income, Social Security, and Medicare Taxes Sole proprietorship, Sole proprietorships. H r block tax preparation Start-up costs, Business Start-Up Costs T Tax help, How to Get More Information Tax year, Tax Year Taxes: Employment, Employment Taxes Estimated, Estimated tax. H r block tax preparation Excise, Excise Taxes How to deposit, Depositing Taxes Income, Income Tax Self-employment, Self-Employment Tax Unemployment (FUTA), Federal Unemployment (FUTA) Tax Taxpayer Advocate, Taxpayer Advocate Service. H r block tax preparation TTY/TDD information, How to Get More Information U Unemployment (FUTA) tax, Federal Unemployment (FUTA) Tax Prev  Up     Home   More Online Publications