Tax FAQ
 

School Tax Credit Is Worth More Than I Earned, Can I Get It All Back?

Question by hannah b | Posted in United States

I only earned $1000 last year but paid about $2500 in college guidance thru alternative loans. I received a tax form from school saying it's deductible. Since I only earned $1000 and wouldn't owe, I wasn't contemporary to file but was wondering if I'd be able to get back the school money. I didn't think so but then heard friends who have kids but only have a claim like $20000 getting $7000 back. I'm not sure if I can get back money when I haven't earned much. If you certain, please tell me b/c the

Answer: No, preparation credits are not refundable, you would only get back what you had withheld from your earnings.
 
 

What Is A School Tax Credit?

Question by jebo | Posted in Credit

my eight state teacher assigned us a writing project where we have to talk about school tax credit. i have no idea what that is and i need your supporter. i have been reading about dependents and the Hope credit and the Lifetime Learning credit, but i don't know what that is. thanks for your remedy.

Answer: Click on the connection that BD posted on the IRS website. You can also put "School Tax Credit" in Google.com. Bascially if you attend the university your parents can get an additional credit on their taxes for you succeeding to school. The IRS has other requirements you will have to read their website to get the details. I hope that helps.

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Will The School Tax Credit Apply To Me?

Question by ☆ღ Bella ragazaღ☆ | Posted in United States

i went to a sanford brown guild its a medical school. i worked there as a federal workstudy student for 5 months. my paychecks got taxes entranced out but very little im talking like no more then 10 dollars. in those 5 months i made a little over $6,000.

will the school tax credit request to me even if they didnt take much taxes off?

all and any information will be helpful

Answer: If you're a dependent, your parents might get a credit. Give them the 1098-T

If you arent a dependent, unless you had more return that that, no you aren't eligible for an education credit.

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Taxes > Hope Credit / School Tax Breaks / What Does This Mean:?

Question by Me | Posted in United States

"Because your tax onus is less than the amount of your Education Credit, the amount of your credit is limited from $2100 to $843."

Thanks! ^_^
And is there a way to get the portion that was cut out?

Answer: The teaching credit is a "non-refundable" tax credit and can't be (in combination of the other non-refundable credits) be more that your tax. So, no, there is no way to get the rest back.

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If I Write A Check For A School For Tax Credit, Will I Get All Of The Money Back Or Just A Percentage?

Question by Questions | Posted in United States

Like if I give $150 can I subtract 150 from my taxes or a certain percentage? Basically, anyone know how it works accurately?

Answer: No, at kindest a percentage. I assume you are talking about a payment for tuition and fees for post-non-critical education, and getting an education credit for part of what you paid. Look at the form to see how it works.

If you are talking about making a liberal contribution to an eligible school, then you'd have to itemize to take any deduction, and your tax savings would be the amount you donated times your tax order. So if you donated $150 and are in a 15% bracket, your tax would

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Changes to Wisconsin school aid formula proposed

(AP) -- A $900 million property tax credit would be diverted into the constitution school aid recipe under a histrionic rewriting of how Wisconsin schools are funded being proposed by dignified Administrator Tony Evers. Evers said Thursday that his ambition is to coin meditation among gubernatorial candidates and others seeking part, as well as edification groups heavily vested in how much wealthy the delineate sends schools.

Source: Changes to Wisconsin school aid formula proposed

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