1996TalonEsi
20+ Year Contributor
- 99
- 0
- Apr 25, 2003
-
TennesseeUS
ok, i got this thing in the mail today from my college, it had the amount of my tuition, and the amount of the scholarships I got. the tuition was more than the scholarship amount, so technically I "paid" some of the tuition. I was wondering if theres anything I could do to get money back from taxes? I made like 7,000$ working part time this past year, and last year I got back all of the federal income tax they took out. I was searching and I came across this
These days, college students (or parents paying college tuition) are getting a little help from the government in the form of credits and deductions. While there are three major ones, students (or their parents) get to select only one per student. And whoever claims the student as a dependent is the one who is eligible for the credit.
Pick the one that best suits your family and situation:
Hope Scholarship Credit: Gives you a tax credit for up to 100% of your first $1,000 in tuition and fees and up to 50% for the second $1,000. The maximum credit is $1,500 and it applies to the first two years of college only.
heres the link
http://moneycentral.msn.com/content/Taxes/P69845.asp?Printer
I received the Tennessee Hope Scholarship, and what does a tax credit do?
Sorry for being so long, any help to help this broke college kid out is appreciated
These days, college students (or parents paying college tuition) are getting a little help from the government in the form of credits and deductions. While there are three major ones, students (or their parents) get to select only one per student. And whoever claims the student as a dependent is the one who is eligible for the credit.
Pick the one that best suits your family and situation:
Hope Scholarship Credit: Gives you a tax credit for up to 100% of your first $1,000 in tuition and fees and up to 50% for the second $1,000. The maximum credit is $1,500 and it applies to the first two years of college only.
heres the link
http://moneycentral.msn.com/content/Taxes/P69845.asp?Printer
I received the Tennessee Hope Scholarship, and what does a tax credit do?
Sorry for being so long, any help to help this broke college kid out is appreciated