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Irs Amended Return

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Irs Amended Return

Irs amended return 13. Irs amended return   Payment of Taxes Table of Contents How To Make Deposits When To Make Deposits Amount of DepositsSafe Harbor Rule Generally, semimonthly deposits of excise taxes are required. Irs amended return A semimonthly period is the first 15 days of a month (the first semimonthly period) or the 16th through the last day of a month (the second semimonthly period). Irs amended return However, no deposit is required for the situations listed below; the taxes are payable with Form 720. Irs amended return The net liability for taxes listed in Part I (Form 720) does not exceed $2,500 for the quarter. Irs amended return The gas guzzler tax is being paid on a one-time filing. Irs amended return The liability is for taxes listed in Part II (Form 720), except for the floor stocks tax which generally requires a single deposit. Irs amended return How To Make Deposits Electronic deposit requirement. Irs amended return   You must use electronic funds transfer to make excise tax deposits. Irs amended return Generally, electronic funds transfers are made using the Electronic Federal Tax Payment System (EFTPS). Irs amended return If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make deposits on your behalf. Irs amended return Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. Irs amended return   EFTPS is a free service provided by the Department of Treasury. Irs amended return Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. Irs amended return To get more information about EFTPS or to enroll in EFTPS, visit www. Irs amended return eftps. Irs amended return gov or call 1-800-555-4477. Irs amended return Additional information about EFTPS is also available in Publication 966, Electronic Federal Tax Payment System: A Guide to Getting Started. Irs amended return    Depositing on time. Irs amended return For EFTPS deposits to be on time, you must initiate the transaction at least 1 day before the date the deposit is due (before 8:00 p. Irs amended return m. Irs amended return Eastern time). Irs amended return You will automatically be enrolled in EFTPS when you apply for an EIN. Irs amended return You will receive a separate mailing containing instructions for activating your EFTPS enrollment after you receive your EIN. Irs amended return When To Make Deposits There are two methods for determining deposits: the regular method and the alternative method. Irs amended return The regular method applies to all taxes in Part I of Form 720 except for communications and air transportation taxes if deposits are based on amounts billed or tickets sold, rather than on amounts actually collected. Irs amended return See Alternative method below. Irs amended return If you are depositing more than one tax under a method, combine all the taxes under the method and make one deposit for the semimonthly period. Irs amended return Regular method. Irs amended return   The deposit of tax for a semimonthly period is due by the 14th day following that period. Irs amended return Generally, this is the 29th day of a month for the first semimonthly period and the 14th day of the following month for the second semimonthly period. Irs amended return If the 14th or the 29th day falls on a Saturday, Sunday, or legal holiday, you must make the deposit by the immediately preceding day that is not a Saturday, Sunday, or legal holiday. Irs amended return Alternative method (IRS Nos. Irs amended return 22, 26, 27, and 28). Irs amended return   Deposits of communications and air transportation taxes may be based on taxes included in amounts billed or tickets sold during a semimonthly period instead of on taxes actually collected during the period. Irs amended return Under the alternative method, the tax included in amounts billed or tickets sold during a semimonthly period is considered collected during the first 7 days of the second following semimonthly period. Irs amended return The deposit of tax is due by the 3rd banking day after the 7th day of that period. Irs amended return   For an example of the alternative method, see the Instructions for Form 720. Irs amended return To use the alternative method, you must keep a separate account of the tax included in amounts billed or tickets sold during the month and report on Form 720 the tax included in amounts billed or tickets sold and not the amount of tax that is actually collected. Irs amended return For example, amounts billed in December, January, and February are considered collected during January, February, and March and are reported on Form 720 as the tax for the 1st quarter of the calendar year. Irs amended return The separate account for each month must reflect: All items of tax included in amounts billed or tickets sold during the month, and Other items of adjustment relating to tax for prior months (within the statute of limitations on credits or refunds). Irs amended return The separate account for any month cannot include an adjustment resulting from a refusal to pay or inability to collect unless the refusal has been reported to the IRS. Irs amended return See Uncollected Tax Report in chapter 4. Irs amended return The net amount of tax that is considered collected during the semimonthly period must be either: The net amount of tax reflected in the separate account for the corresponding semimonthly period of the preceding month, or One-half of the net amount of tax reflected in the separate account for the preceding month. Irs amended return Special rule for deposits of taxes in September. Irs amended return   See the Instructions for Form 720 for a special rule on deposits made in September. Irs amended return Amount of Deposits Deposits for a semimonthly period generally must be at least 95% of the net tax liability for that period unless the safe harbor rule (discussed later) applies. Irs amended return Generally, you do not have to make a deposit for a period in which you incurred no tax liability. Irs amended return Net tax liability. Irs amended return   Your net tax liability is your tax liability for the period minus any claims on Schedule C (Form 720) for the period. Irs amended return You may figure your net tax liability for a semimonthly period by dividing your net liability incurred during the calendar month by two. Irs amended return If you use this method, you must use it for all semimonthly periods in the calendar quarter. Irs amended return Do not reduce your liability by any amounts from Form 720X. Irs amended return Safe Harbor Rule The safe harbor rule applies separately to deposits under the regular method and the alternative method. Irs amended return Persons who filed Form 720 for the look-back quarter (the 2nd calendar quarter preceding the current quarter) are considered to meet the semimonthly deposit requirement if the deposit for each semimonthly period in the current quarter is at least 1/6 (16. Irs amended return 67%) of the net tax liability reported for the look-back quarter. Irs amended return For the semimonthly period for which the additional deposit is required, the additional deposit must be at least 11/90 12. Irs amended return 23%), 10/90 (11. Irs amended return 12%) for non-EFTPS, of the net tax liability reported for the look-back quarter. Irs amended return Also, the total deposit for that semimonthly period must be at least 1/6 (16. Irs amended return 67%) of the net tax liability reported for the look-back quarter. Irs amended return Exceptions. Irs amended return   The safe harbor rule does not apply to: The 1st and 2nd quarters beginning on or after the effective date of an increase in the rate of tax unless the deposit of taxes for each semimonthly period in the calendar quarter is at least 1/6 (16. Irs amended return 67%) of the tax liability you would have had for the look-back quarter if the increased rate of tax had been in effect for that look-back quarter, Any quarter if liability includes any tax not in effect throughout the look-back quarter, or For deposits under the alternative method, any quarter if liability includes any tax not in effect throughout the look-back quarter and the month preceding the look-back quarter. Irs amended return Requirements to be met. Irs amended return   For the safe harbor rule to apply, you must: Make each deposit timely at an authorized financial institution, and Pay any underpayment for the current quarter by the due date of the return. Irs amended return    The IRS may withdraw the right to make deposits of tax using the safe harbor rule from any person not complying with these rules. Irs amended return Tax rate increases. Irs amended return   You must modify the safe harbor rule if there has been an increase in the rate of tax. Irs amended return You must figure your tax liability in the look-back quarter as if the increased rate had been in effect. Irs amended return To qualify for the safe harbor rule, your deposits cannot be less than 1/6 of the refigured tax liability. Irs amended return Prev  Up  Next   Home   More Online Publications
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The Irs Amended Return

Irs amended return Publication 970 - Additional Material Table of Contents AppendicesAppendix A. Irs amended return 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. Irs amended return 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. Irs amended return Appendix B—A chart summarizing some of the major differences between the education tax benefits discussed in this publication. Irs amended return It is intended only as a guide. Irs amended return Look in this publication for more complete information. Irs amended return   Appendix A. Irs amended return 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). Irs amended return Their modified adjusted gross income (MAGI) on Form 1040, line 38 is $110,000. Irs amended return Because Dave and Valerie have unusually high itemized deductions, their taxable income is $10,000 and their tax before credits is $1,000. Irs amended return Sean enrolled as a full-time graduate student in August 2013 at California State College. Irs amended return He graduated with his bachelor's degree in 2012 and did not attend school from January 2013 through July 2013. Irs amended return His parents claimed the Hope Scholarship Credit for Sean for 2008 and the American opportunity credit for Sean for 2010, 2011, and 2012. Irs amended return Carey enrolled full time as a freshman at the same college in January 2013 to begin working on her bachelor's degree. Irs amended return In 2013, Dave and Valerie paid $7,000 in tuition for Sean and $8,500 in tuition for Carey. Irs amended return California State College issued two Forms 1098-T, one for Sean and one for Carey, and sent them to the Joneses' residence. Irs amended return California State College reports amounts billed in 2013 instead of amounts paid during 2013. Irs amended return In completing Form 8863, the Joneses use the amounts they paid. Irs amended return Neither Sean nor Carey has been convicted of a felony for possession or distribution of a controlled substance before the end of 2013. Irs amended return Dave and Valerie figure their education credits by completing Form 8863. Irs amended return They begin Form 8863 on page 2 before completing Part I on page 1. Irs amended return Because the Joneses have two eligible students, they will complete page 2 twice, once for their son, Sean, and once for their daughter, Carey. Irs amended return The Joneses decide to complete Part III for Carey first, as shown later. Irs amended return They carry over the amount of $2,500 entered on Part III, line 30, to Part I, line 1. Irs amended return The Joneses complete a separate Part III for their son Sean. Irs amended return 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. Irs amended return They figure their line 31 adjusted qualified education expenses for Sean to be $7,000. Irs amended return Once they have completed Part III for each student, they figure their credits. Irs amended return The Joneses figure their refundable American opportunity credit of $1,000 by completing Form 8863, Part I, lines 1 through 8. Irs amended return They enter the amount from line 8, $1,000, on line 66 of their Form 1040. Irs amended return 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). Irs amended return They cannot claim the full amount because their MAGI of $110,000 is greater than $107,000. Irs amended return They enter the reduced amount of $1,190 (figured on Part II, line 18) on the Credit Limit Worksheet, line 1. Irs amended return 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. Irs amended return 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. Irs amended return They enter $1,000 on line 19, Part II of Form 8863 and on line 49 of Form 1040. Irs amended return This image is too large to be displayed in the current screen. Irs amended return Please click the link to view the image. Irs amended return Form 1098-T Adjusted Qualified Education Expenses Worksheet (Form 8863 instructions) 1. Irs amended return Total qualified education expenses paid for or on behalf of the student in 2013 for the academic period 8,500 2. Irs amended return Less adjustments:     a. Irs amended return Tax-free educational assistance received in 2013 allocable to the academic period   0     b. Irs amended return Tax-free educational assistance received in 2014 (and before you file your 2013 tax return) allocable to the academic period   0     c. Irs amended return 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. Irs amended return Total adjustments (add lines 2a, 2b, and 2c) 0 4. Irs amended return Adjusted qualified education expenses. Irs amended return Subtract line 3 from line 1. Irs amended return If zero or less, enter -0- 8,500 This image is too large to be displayed in the current screen. Irs amended return Please click the link to view the image. Irs amended return Form 1098-T Adjusted Qualified Education Expenses Worksheet (Form 8863 instructions) 1. Irs amended return Total qualified education expenses paid for or on behalf of the student in 2013 for the academic period 7,000 2. Irs amended return Less adjustments:     a. Irs amended return Tax-free educational assistance received in 2013 allocable to the academic period   0     b. Irs amended return Tax-free educational assistance received in 2014 (and before you file your 2013 tax return) allocable to the academic period   0     c. Irs amended return 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. Irs amended return Total adjustments (add lines 2a, 2b, and 2c) 0 4. Irs amended return Adjusted qualified education expenses. Irs amended return Subtract line 3 from line 1. Irs amended return If zero or less, enter -0- 7,000 Credit Limit Worksheet (Form 8863 instructions) Nonrefundable Credit Worksheet 1. Irs amended return Enter the amount from Form 8863, line 18 1. Irs amended return 1,190 2. Irs amended return Enter the amount from Form 8863, line 9 2. Irs amended return 1,500 3. Irs amended return Add lines 1 and 2 3. Irs amended return 2,690 4. Irs amended return Enter the amount from: Form 1040, line 46; or Form 1040A, line 28 4. Irs amended return 1,000 5. Irs amended return 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. Irs amended return 0 6. Irs amended return Subtract line 5 from line 4 6. Irs amended return 1,000 7. Irs amended return   Enter the smaller of line 3 or line 6 here and on Form 8863, line 19 7. Irs amended return 1,000 This image is too large to be displayed in the current screen. Irs amended return Please click the link to view the image. Irs amended return Form 8863 for Dave and Valerie Jones This image is too large to be displayed in the current screen. Irs amended return Please click the link to view the image. Irs amended return Carey Jones page 2 This image is too large to be displayed in the current screen. Irs amended return Please click the link to view the image. Irs amended return Filled-in Form 8863 Jones page 2 Appendix B. Irs amended return Highlights of Education Tax Benefits for Tax Year 2013 This chart highlights some differences among the benefits discussed in this publication. Irs amended return See the text for definitions and details. Irs amended return Do not rely on this chart alone. Irs amended return    Caution:You generally cannot claim more than one benefit for the same education expense. Irs amended return   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. Irs amended return    40% of the credit may be refundable (limited to $1,000 per student). Irs amended return 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. Irs amended return , that must be paid to the educational institution, etc. Irs amended return , 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. Irs amended return   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. Irs amended return 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. Irs amended return 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. Irs amended return For each term listed below that has more than one definition, the definition for each education benefit is listed. Irs amended return Academic period:   A semester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. Irs amended return 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. Irs amended return 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. Irs amended return 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. Irs amended return For information on a specific benefit, see the appropriate chapter in this publication. Irs amended return Candidate for a degree:   A student who meets either of the following requirements. Irs amended return 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. Irs amended return 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. Irs amended return Eligible educational institution:    American opportunity credit. Irs amended return Any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the Department of Education. Irs amended return It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Irs amended return Coverdell education savings account (ESA). Irs amended return Any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the Department of Education. Irs amended return It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Irs amended return Also included is any public, private, or religious school that provides elementary or secondary education (kindergarten through grade 12), as determined under state law. Irs amended return Education savings bond program. Irs amended return Same as American opportunity credit in this category. Irs amended return IRA, early distributions from. Irs amended return Same as American opportunity credit in this category. Irs amended return Lifetime learning credit. Irs amended return Same as American opportunity credit in this category. Irs amended return Qualified tuition program (QTP). Irs amended return Same as American opportunity credit in this category. Irs amended return Scholarships and fellowships. Irs amended return 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. Irs amended return Student loan, cancellation of. Irs amended return Same as Scholarships and fellowships in this category. Irs amended return Student loan interest deduction. Irs amended return Any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the Department of Education. Irs amended return It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Irs amended return 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. Irs amended return Tuition and fees deduction. Irs amended return Same as American opportunity credit in this category. Irs amended return Eligible student:    American opportunity credit. Irs amended return A student who meets all of the following requirements for the tax year for which the credit is being determined. Irs amended return Did not have expenses that were used to figure an American opportunity or Hope Scholarship Credit in any 4 earlier tax years. Irs amended return Had not completed the first 4 years of postsecondary education (generally the freshman through senior years). Irs amended return 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. Irs amended return Was free of any federal or state felony conviction for possessing or distributing a controlled substance as of the end of the tax year. Irs amended return Lifetime learning credit. Irs amended return A student who is enrolled in one or more courses at an eligible educational institution. Irs amended return Student loan interest deduction. Irs amended return 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. Irs amended return Tuition and fees deduction. Irs amended return A student who is enrolled in one or more courses at an eligible educational institution. Irs amended return 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. Irs amended return Modified adjusted gross income (MAGI):    American opportunity credit. Irs amended return 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. Irs amended return Coverdell education savings account (ESA). Irs amended return Same as American opportunity credit in this category. Irs amended return Education savings bond program. Irs amended return 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. Irs amended return Lifetime learning credit. Irs amended return Same as American opportunity credit in this category. Irs amended return Student loan interest deduction. Irs amended return 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. Irs amended return Tuition and fees deduction. Irs amended return 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. Irs amended return Phaseout:   The amount of credit or deduction allowed is reduced when modified adjusted gross income (MAGI) is greater than a specified amount of income. Irs amended return Qualified education expenses:   See pertinent chapter for specific items. Irs amended return    American opportunity credit. Irs amended return Tuition and certain related expenses (including student activity fees) required for enrollment or attendance at an eligible educational institution. Irs amended return Books, supplies, and equipment needed for a course of study are included even if not purchased from the educational institution. Irs amended return Does not include expenses for room and board. Irs amended return 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. Irs amended return Coverdell education savings account (ESA). Irs amended return Expenses related to or required for enrollment or attendance of the designated beneficiary at an eligible elementary, secondary, or postsecondary school. Irs amended return Many specialized expenses included for K–12. Irs amended return Also includes expenses for special needs services and contribution to qualified tuition program (QTP). Irs amended return Education savings bond program. Irs amended return Tuition and fees required to enroll at or attend an eligible educational institution. Irs amended return Also includes contributions to a qualified tuition program (QTP) or Coverdell education savings account (ESA). Irs amended return Does not include expenses for room and board. Irs amended return Does not include expenses for courses involving sports, games, or hobbies that are not part of a degree or certificate granting program. Irs amended return IRA, early distributions from. Irs amended return 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. Irs amended return Also includes expenses for special needs services incurred by or for special needs students in connection with their enrollment or attendance. Irs amended return Lifetime learning credit. Irs amended return Tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Irs amended return 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. Irs amended return Does not include expenses for room and board. Irs amended return 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. Irs amended return Qualified tuition program (QTP). Irs amended return 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. Irs amended return Includes expenses for special needs services and computer access. Irs amended return Scholarships and fellowships. Irs amended return 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. Irs amended return Course-related items must be required of all students in the course of instruction. Irs amended return Student loan interest deduction. Irs amended return Total costs of attending an eligible educational institution, including graduate school (however, limitations may apply to the cost of room and board allowed). Irs amended return Tuition and fees deduction. Irs amended return Tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Irs amended return 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. Irs amended return Recapture:   To include as income on your current year's return an amount allowed as a deduction in a prior year. Irs amended return To include as tax on your current year's return an amount allowed as a credit in a prior year. Irs amended return 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. Irs amended return 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. Irs amended return Prev  Up  Next   Home   More Online Publications