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Senior tax stimulus check 19. Senior tax stimulus check   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. Senior tax stimulus check This chapter covers the student loan interest deduction, tuition and fees deduction, and the deduction for educator expenses. Senior tax stimulus check 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. Senior tax stimulus check 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. Senior tax stimulus check 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. Senior tax stimulus check This deduction can reduce the amount of your income subject to tax by up to $2,500 in 2013. Senior tax stimulus check Table 19-1 summarizes the features of the student loan interest deduction. Senior tax stimulus check Table 19-1. Senior tax stimulus check Student Loan Interest Deduction at a Glance Do not rely on this table alone. Senior tax stimulus check Refer to the text for more details. Senior tax stimulus check Feature Description Maximum benefit You can reduce your income subject to tax by up to $2,500. Senior tax stimulus check 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. Senior tax stimulus check 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. Senior tax stimulus check Time limit on deduction You can deduct interest paid during the remaining period of your student loan. Senior tax stimulus check Phaseout The amount of your deduction depends on your income level. Senior tax stimulus check Student Loan Interest Defined Student loan interest is interest you paid during the year on a qualified student loan. Senior tax stimulus check It includes both required and voluntary interest payments. Senior tax stimulus check 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. Senior tax stimulus check Loans from the following sources are not qualified student loans. Senior tax stimulus check A related person. Senior tax stimulus check A qualified employer plan. Senior tax stimulus check Exceptions. Senior tax stimulus check   For purposes of the student loan interest deduction, the following are exceptions to the general rules for dependents. Senior tax stimulus check An individual can be your dependent even if you are the dependent of another taxpayer. Senior tax stimulus check An individual can be your dependent even if the individual files a joint return with a spouse. Senior tax stimulus check 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). Senior tax stimulus check    Reasonable period of time. Senior tax stimulus check   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. Senior tax stimulus check   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. Senior tax stimulus check The expenses relate to a specific academic period. Senior tax stimulus check 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. Senior tax stimulus check   If neither of the above situations applies, the reasonable period of time is determined based on all the relevant facts and circumstances. Senior tax stimulus check Academic period. Senior tax stimulus check   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. Senior tax stimulus check 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. Senior tax stimulus check Eligible student. Senior tax stimulus check   This is a student who was enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential. Senior tax stimulus check Enrolled at least half-time. Senior tax stimulus check   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. Senior tax stimulus check   The standard for what is half of the normal full-time work load is determined by each eligible educational institution. Senior tax stimulus check However, the standard may not be lower than any of those established by the U. Senior tax stimulus check S. Senior tax stimulus check Department of Education under the Higher Education Act of 1965. Senior tax stimulus check Related person. Senior tax stimulus check   You cannot deduct interest on a loan you get from a related person. Senior tax stimulus check Related persons include: Your spouse, Your brothers and sisters, Your half brothers and half sisters, Your ancestors (parents, grandparents, etc. Senior tax stimulus check ), Your lineal descendants (children, grandchildren, etc. Senior tax stimulus check ), and Certain corporations, partnerships, trusts, and exempt organizations. Senior tax stimulus check Qualified employer plan. Senior tax stimulus check   You cannot deduct interest on a loan made under a qualified employer plan or under a contract purchased under such a plan. Senior tax stimulus check 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. Senior tax stimulus check They include amounts paid for the following items. Senior tax stimulus check Tuition and fees. Senior tax stimulus check Room and board. Senior tax stimulus check Books, supplies, and equipment. Senior tax stimulus check Other necessary expenses (such as transportation). Senior tax stimulus check 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. Senior tax stimulus check Eligible educational institution. Senior tax stimulus check   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. Senior tax stimulus check S. Senior tax stimulus check Department of Education. Senior tax stimulus check It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Senior tax stimulus check   Certain educational institutions located outside the United States also participate in the U. Senior tax stimulus check S. Senior tax stimulus check Department of Education's Federal Student Aid (FSA) programs. Senior tax stimulus check   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. Senior tax stimulus check   An educational institution must meet the above criteria only during the academic period(s) for which the student loan was incurred. Senior tax stimulus check The deductibility of interest on the loan is not affected by the institution's subsequent loss of eligibility. Senior tax stimulus check    The educational institution should be able to tell you if it is an eligible educational institution. Senior tax stimulus check Adjustments to qualified education expenses. Senior tax stimulus check   You must reduce your qualified education expenses by certain tax-free items (such as the tax-free part of scholarships and fellowships). Senior tax stimulus check See chapter 4 of Publication 970 for details. Senior tax stimulus check 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. Senior tax stimulus check Loan origination fee. Senior tax stimulus check   In general, this is a one-time fee charged by the lender when a loan is made. Senior tax stimulus check 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. Senior tax stimulus check A loan origination fee treated as interest accrues over the life of the loan. Senior tax stimulus check Capitalized interest. Senior tax stimulus check    This is unpaid interest on a student loan that is added by the lender to the outstanding principal balance of the loan. Senior tax stimulus check Interest on revolving lines of credit. Senior tax stimulus check   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. Senior tax stimulus check See Qualified Education Expenses , earlier. Senior tax stimulus check Interest on refinanced student loans. Senior tax stimulus check   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. Senior tax stimulus check 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. Senior tax stimulus check Voluntary interest payments. Senior tax stimulus check   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. Senior tax stimulus check Do Not Include as Interest You cannot claim a student loan interest deduction for any of the following items. Senior tax stimulus check Interest you paid on a loan if, under the terms of the loan, you are not legally obligated to make interest payments. Senior tax stimulus check Loan origination fees that are payments for property or services provided by the lender, such as commitment fees or processing costs. Senior tax stimulus check 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. Senior tax stimulus check For more information, see Student Loan Repayment Assistance in chapter 5 of Publication 970. Senior tax stimulus check Can You Claim the Deduction Generally, you can claim the deduction if all of the following requirements are met. Senior tax stimulus check Your filing status is any filing status except married filing separately. Senior tax stimulus check No one else is claiming an exemption for you on his or her tax return. Senior tax stimulus check You are legally obligated to pay interest on a qualified student loan. Senior tax stimulus check You paid interest on a qualified student loan. Senior tax stimulus check Interest paid by others. Senior tax stimulus check   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. Senior tax stimulus check See chapter 4 of Publication 970 for more information. Senior tax stimulus check 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). Senior tax stimulus check 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. Senior tax stimulus check 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). Senior tax stimulus check 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). Senior tax stimulus check For details on figuring your MAGI, see chapter 4 of Publication 970. Senior tax stimulus check 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. Senior tax stimulus check 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. Senior tax stimulus check To help you figure your student loan interest deduction, you should receive Form 1098-E, Student Loan Interest Statement. Senior tax stimulus check 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. Senior tax stimulus check 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. Senior tax stimulus check Other interest payments, such as certain loan origination fees and capitalized interest, may not appear on the form you receive. Senior tax stimulus check However, if you pay qualifying interest that is not included on Form 1098-E, you can also deduct those amounts. Senior tax stimulus check For information on allocating payments between interest and principal, see chapter 4 of Publication 970. Senior tax stimulus check To claim the deduction, enter the allowable amount on Form 1040, line 33, or Form 1040A, line 18. Senior tax stimulus check 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). Senior tax stimulus check 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. Senior tax stimulus check The qualified expenses must be for higher education, as explained later under What Expenses Qualify . Senior tax stimulus check The tuition and fees deduction can reduce the amount of your income subject to tax by up to $4,000. Senior tax stimulus check Table 19-2 summarizes the features of the tuition and fees deduction. Senior tax stimulus check You may be able to take a credit for your education expenses instead of a deduction. Senior tax stimulus check You can choose the one that will give you the lower tax. Senior tax stimulus check See chapter 35, Education Credits, for details about the credits. Senior tax stimulus check Can You Claim the Deduction The following rules will help you determine if you can claim the tuition and fees deduction. Senior tax stimulus check Who Can Claim the Deduction Generally, you can claim the tuition and fees deduction if all three of the following requirements are met. Senior tax stimulus check 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. Senior tax stimulus check You paid the education expenses for an eligible student. Senior tax stimulus check The eligible student is yourself, your spouse, or your dependent for whom you claim an exemption (defined in chapter 3) on your tax return. Senior tax stimulus check Qualified education expenses are defined under What Expenses Qualify . Senior tax stimulus check Eligible students are defined later under Who Is an Eligible Student . Senior tax stimulus check Who Cannot Claim the Deduction You cannot claim the tuition and fees deduction if any of the following apply. Senior tax stimulus check Your filing status is married filing separately. Senior tax stimulus check Another person can claim an exemption for you as a dependent on his or her tax return. Senior tax stimulus check You cannot take the deduction even if the other person does not actually claim that exemption. Senior tax stimulus check Your modified adjusted gross income (MAGI) is more than $80,000 ($160,000 if filing a joint return). Senior tax stimulus check 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. Senior tax stimulus check More information on nonresident aliens can be found in Publication 519, U. Senior tax stimulus check S. Senior tax stimulus check Tax Guide for Aliens. Senior tax stimulus check 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. Senior tax stimulus check However, a state tax credit will not disqualify you from claiming a tuition and fees deduction. Senior tax stimulus check Table 19-2. Senior tax stimulus check Tuition and Fees Deduction at a Glance Do not rely on this table alone. Senior tax stimulus check Refer to the text for more details. Senior tax stimulus check Question   Answer What is the maximum benefit?   You can reduce your income subject to tax by up to $4,000. Senior tax stimulus check Where is the deduction taken?   As an adjustment to income on Form 1040, line 34, or Form 1040A, line 19. Senior tax stimulus check 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. Senior tax stimulus check 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. Senior tax stimulus check 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. Senior tax stimulus check 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. Senior tax stimulus check Payments with borrowed funds. Senior tax stimulus check   You can claim a tuition and fees deduction for qualified education expenses paid with the proceeds of a loan. Senior tax stimulus check 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. Senior tax stimulus check Treat loan payments sent directly to the educational institution as paid on the date the institution credits the student's account. Senior tax stimulus check Student withdraws from class(es). Senior tax stimulus check   You can claim a tuition and fees deduction for qualified education expenses not refunded when a student withdraws. Senior tax stimulus check 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. Senior tax stimulus check Eligible educational institution. Senior tax stimulus check   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. Senior tax stimulus check S. Senior tax stimulus check Department of Education. Senior tax stimulus check It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Senior tax stimulus check The educational institution should be able to tell you if it is an eligible educational institution. Senior tax stimulus check   Certain educational institutions located outside the United States also participate in the U. Senior tax stimulus check S. Senior tax stimulus check Department of Education's Federal Student Aid (FSA) programs. Senior tax stimulus check Academic period. Senior tax stimulus check    An academic period is any quarter, semester, trimester, or any other period of study as reasonably determined by an eligible educational institution. Senior tax stimulus check If an eligible educational institution uses credit hours and does not have academic terms, each payment period may be treated as an academic period. Senior tax stimulus check Related expenses. Senior tax stimulus check   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. Senior tax stimulus check Prepaid expenses. Senior tax stimulus check   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. Senior tax stimulus check See Academic period, earlier. Senior tax stimulus check 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. Senior tax stimulus check    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. Senior tax stimulus check No Double Benefit Allowed You cannot do any of the following. Senior tax stimulus check Deduct qualified education expenses you deduct under any other provision of the law, for example, as a business expense. Senior tax stimulus check 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. Senior tax stimulus check 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). Senior tax stimulus check 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. Senior tax stimulus check See Figuring the Taxable Portion of a Distribution in chapter 7 (Coverdell ESA) and chapter 8 (QTP) of Publication 970. Senior tax stimulus check Deduct qualified education expenses that have been paid with tax-free interest on U. Senior tax stimulus check S. Senior tax stimulus check savings bonds (Form 8815). Senior tax stimulus check See Figuring the Tax-Free Amount in chapter 10 of Publication 970. Senior tax stimulus check Deduct qualified education expenses that have been paid with tax-free educational assistance such as a scholarship, grant, or employer-provided educational assistance. Senior tax stimulus check See Adjustments to qualified education expenses, later. Senior tax stimulus check Adjustments to qualified education expenses. Senior tax stimulus check   For each student, reduce the qualified education expenses paid by or on behalf of that student under the following rules. Senior tax stimulus check The result is the amount of adjusted qualified education expenses for each student. Senior tax stimulus check Tax-free educational assistance. Senior tax stimulus check   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. Senior tax stimulus check See Academic period, earlier. Senior tax stimulus check   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. Senior tax stimulus check Generally, any scholarship or fellowship you receive is treated as tax-free educational assistance. Senior tax stimulus check 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. Senior tax stimulus check 970, chapter 1. Senior tax stimulus check 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. Senior tax stimulus check 970, chapter 1. Senior tax stimulus check 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. Senior tax stimulus check For details, see Adjustments to Qualified Education Expenses in chapter 6 of Pub. Senior tax stimulus check 970. Senior tax stimulus check Some tax-free educational assistance received in 2013 may be treated as a refund of qualified education expenses paid in 2013. Senior tax stimulus check 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). Senior tax stimulus check 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. Senior tax stimulus check 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. Senior tax stimulus check Refunds. Senior tax stimulus check   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. Senior tax stimulus check See chapter 6 of Pub. Senior tax stimulus check 970 for more information. Senior tax stimulus check Some tax-free educational assistance received after 2013 may be treated as a refund. Senior tax stimulus check See Tax-free educational assistance, earlier. Senior tax stimulus check Refunds received in 2013. Senior tax stimulus check    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. Senior tax stimulus check Refunds received after 2013 but before your income tax return is filed. Senior tax stimulus check   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. Senior tax stimulus check Refunds received after 2013 and after your income tax return is filed. Senior tax stimulus check   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. Senior tax stimulus check See chapter 6 of Pub. Senior tax stimulus check 970 for more information. Senior tax stimulus check Coordination with Coverdell education savings accounts and qualified tuition programs. Senior tax stimulus check    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). Senior tax stimulus check 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. Senior tax stimulus check Amounts that do not reduce qualified education expenses. Senior tax stimulus check   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. Senior tax stimulus check   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. Senior tax stimulus check 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. Senior tax stimulus check The use of the money is not restricted. Senior tax stimulus check 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. Senior tax stimulus check This is true even if the amount must be paid to the institution as a condition of enrollment or attendance. Senior tax stimulus check Sports, games, hobbies, and noncredit courses. Senior tax stimulus check   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. Senior tax stimulus check However, if the course of instruction or other education is part of the student's degree program, these expenses can qualify. Senior tax stimulus check Comprehensive or bundled fees. Senior tax stimulus check   Some eligible educational institutions combine all of their fees for an academic period into one amount. Senior tax stimulus check 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. Senior tax stimulus check 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. Senior tax stimulus check See How Do You Figure the Deduction , later, for more information about Form 1098-T. Senior tax stimulus check 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). Senior tax stimulus check 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. Senior tax stimulus check Table 19-3 summarizes who can claim the deduction. Senior tax stimulus check 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. Senior tax stimulus check For details on figuring your MAGI, see chapter 6 of Publication 970. Senior tax stimulus check How Do You Figure the Deduction Figure the deduction using Form 8917. Senior tax stimulus check To help you figure your tuition and fees deduction, you should receive Form 1098-T, Tuition Statement. Senior tax stimulus check 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. Senior tax stimulus check To claim the deduction, enter the allowable amount on Form 1040, line 34, or Form 1040A, line 19, and attach your completed Form 8917. Senior tax stimulus check Table 19-3. Senior tax stimulus check Who Can Claim a Dependent's Expenses Do not rely on this table alone. Senior tax stimulus check See Who Can Claim a Dependent's Expenses in chapter 6 of Publication 970. Senior tax stimulus check IF your dependent is an eligible student and you. Senior tax stimulus check . Senior tax stimulus check . Senior tax stimulus check AND. Senior tax stimulus check . Senior tax stimulus check . Senior tax stimulus check THEN. Senior tax stimulus check . Senior tax stimulus check . Senior tax stimulus check 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. Senior tax stimulus check Your dependent cannot take a deduction. Senior tax stimulus check claim an exemption for your dependent your dependent paid all qualified education expenses no one is allowed to take a deduction. Senior tax stimulus check do not claim an exemption for your dependent you paid all qualified education expenses no one is allowed to take a deduction. Senior tax stimulus check do not claim an exemption for your dependent your dependent paid all qualified education expenses no one is allowed to take a deduction. Senior tax stimulus check 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. Senior tax stimulus check If you and your spouse are filing jointly and both of you were eligible educators, the maximum deduction is $500. Senior tax stimulus check However, neither spouse can deduct more than $250 of his or her qualified expenses on Form 1040, line 23, or Form 1040A, line 16. Senior tax stimulus check You may be able to deduct expenses that are more than the $250 (or $500) limit on Schedule A (Form 1040), line 21. Senior tax stimulus check Eligible educator. Senior tax stimulus check   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. Senior tax stimulus check Qualified expenses. Senior tax stimulus check   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. Senior tax stimulus check An ordinary expense is one that is common and accepted in your educational field. Senior tax stimulus check A necessary expense is one that is helpful and appropriate for your profession as an educator. Senior tax stimulus check An expense does not have to be required to be considered necessary. Senior tax stimulus check   Qualified expenses do not include expenses for home schooling or for nonathletic supplies for courses in health or physical education. Senior tax stimulus check   You must reduce your qualified expenses by the following amounts. Senior tax stimulus check Excludable U. Senior tax stimulus check S. Senior tax stimulus check series EE and I savings bond interest from Form 8815. Senior tax stimulus check See Figuring the Tax-Free Amount in chapter 10 of Publication 970. Senior tax stimulus check Nontaxable qualified tuition program earnings or distributions. Senior tax stimulus check See Figuring the Taxable Portion of a Distribution in chapter 8 of Publication 970. Senior tax stimulus check Nontaxable distribution of earnings from a Coverdell education savings account. Senior tax stimulus check See Figuring the Taxable Portion of a Distribution in chapter 7 of Publication 970. Senior tax stimulus check Any reimbursements you received for these expenses that were not reported to you in box 1 of your Form W-2. Senior tax stimulus check Prev  Up  Next   Home   More Online Publications
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SOI Tax Stats - Individual Tax Statistics

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Here you will find links to various studies relating to the individual taxpayer.

 

Individual Income Tax Numerous studies which provide statistics on income, deductions, tax, and credits reported on individual Form 1040 income tax returns and associated schedules are available in this area. Find statistics on high income tax returns, income tax rates, nonfarm sole proprietorships, data by geographic areas, and more...

Estate Tax

Estate Tax Statistics OneSheet

This annual study includes information on gross estate and its composition, deductions, and tax; and information on the age, sex, and marital status of decedents. Basic estate tax return data by year in which returns are filed are produced each year. Also included are data on nonresident aliens who had more than $60,000 of assets in the United States. These data come from taxpayers filing Form 706.
International Numerous studies which provide statistics on the individual taxpayer in the international context. Find statistics on foreign recipients of U.S. income, foreign trusts, individual foreign earned income and the foreign tax credit, international boycotts and nonresident alien estate tax returns. These data come from taxpayers filing Forms 706-NA, 1042-S, 1116, 2555, 3520, 5713 and more.
Personal Wealth This periodic study provides estimates of personal wealth of top wealth holders that are generated from estate tax return data using the "estate multiplier" technique, in conjunction with both filing-year and year-of-death estate databases.

Income from Trusts and Estates

Snapshot of Estate and Trust Income Tax Statistics

The U.S. Income Tax Return for Estates and Trusts (Form 1041) is used to report the income, deductions, gains, and losses of estates and trusts, as well as distributions to beneficiaries and income tax liability. Entities are classified into types based on their purpose.  

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Page Last Reviewed or Updated: 24-Mar-2014

The Senior Tax Stimulus Check

Senior tax stimulus check 11. Senior tax stimulus check   How To Get Tax Help Table of Contents Whether it's help with a tax issue, preparing your tax return or a need for a free publication or form, get the help you need the way you want it: online, use a smart phone, call or walk in to an IRS office or volunteer site near you. Senior tax stimulus check Free help with your tax return. Senior tax stimulus check   You can get free help preparing your return nationwide from IRS-certified volunteers. Senior tax stimulus check The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. Senior tax stimulus check The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Senior tax stimulus check Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. Senior tax stimulus check In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. Senior tax stimulus check To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. Senior tax stimulus check gov, download the IRS2Go app, or call 1-800-906-9887. Senior tax stimulus check   As part of the TCE program, AARP offers the Tax-Aide counseling program. Senior tax stimulus check To find the nearest AARP Tax-Aide site, visit AARP's website at www. Senior tax stimulus check aarp. Senior tax stimulus check org/money/taxaide or call 1-888-227-7669. Senior tax stimulus check For more information on these programs, go to IRS. Senior tax stimulus check gov and enter “VITA” in the search box. Senior tax stimulus check Internet. Senior tax stimulus check    IRS. Senior tax stimulus check gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. Senior tax stimulus check Download the free IRS2Go app from the iTunes app store or from Google Play. Senior tax stimulus check Use it to check your refund status, order transcripts of your tax returns or tax account, watch the IRS YouTube channel, get IRS news as soon as it's released to the public, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. Senior tax stimulus check Check the status of your 2013 refund with the Where's My Refund? application on IRS. Senior tax stimulus check gov or download the IRS2Go app and select the Refund Status option. Senior tax stimulus check The IRS issues more than 9 out of 10 refunds in less than 21 days. Senior tax stimulus check Using these applications, you can start checking on the status of your return within 24 hours after we receive your e-filed return or 4 weeks after you mail a paper return. Senior tax stimulus check You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. Senior tax stimulus check The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Senior tax stimulus check Use the Interactive Tax Assistant (ITA) to research your tax questions. Senior tax stimulus check No need to wait on the phone or stand in line. Senior tax stimulus check The ITA is available 24 hours a day, 7 days a week, and provides you with a variety of tax information related to general filing topics, deductions, credits, and income. Senior tax stimulus check When you reach the response screen, you can print the entire interview and the final response for your records. Senior tax stimulus check New subject areas are added on a regular basis. Senior tax stimulus check  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. Senior tax stimulus check gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. Senior tax stimulus check You can use the IRS Tax Map, to search publications and instructions by topic or keyword. Senior tax stimulus check The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. Senior tax stimulus check When the user searches the IRS Tax Map, they will be provided with links to related content in existing IRS publications, forms and instructions, questions and answers, and Tax Topics. Senior tax stimulus check Coming this filing season, you can immediately view and print for free all 5 types of individual federal tax transcripts (tax returns, tax account, record of account, wage and income statement, and certification of non-filing) using Get Transcript. Senior tax stimulus check You can also ask the IRS to mail a return or an account transcript to you. Senior tax stimulus check Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. Senior tax stimulus check gov or by calling 1-800-908-9946. Senior tax stimulus check Tax return and tax account transcripts are generally available for the current year and the past three years. Senior tax stimulus check Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. Senior tax stimulus check Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. Senior tax stimulus check If you received the First Time Homebuyer Credit, you can use the First Time Homebuyer Credit Account Look-up tool for information on your repayments and account balance. Senior tax stimulus check Check the status of your amended return using Where's My Amended Return? Go to IRS. Senior tax stimulus check gov and enter Where's My Amended Return? in the search box. Senior tax stimulus check You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Senior tax stimulus check It can take up to 3 weeks from the date you mailed it to show up in our system. Senior tax stimulus check Make a payment using one of several safe and convenient electronic payment options available on IRS. Senior tax stimulus check gov. Senior tax stimulus check Select the Payment tab on the front page of IRS. Senior tax stimulus check gov for more information. Senior tax stimulus check Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. Senior tax stimulus check Figure your income tax withholding with the IRS Withholding Calculator on IRS. Senior tax stimulus check gov. Senior tax stimulus check Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. Senior tax stimulus check Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. Senior tax stimulus check gov. Senior tax stimulus check Request an Electronic Filing PIN by going to IRS. Senior tax stimulus check gov and entering Electronic Filing PIN in the search box. Senior tax stimulus check Download forms, instructions and publications, including accessible versions for people with disabilities. Senior tax stimulus check Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. Senior tax stimulus check gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. Senior tax stimulus check An employee can answer questions about your tax account or help you set up a payment plan. Senior tax stimulus check Before you visit, check the Office Locator on IRS. Senior tax stimulus check gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. Senior tax stimulus check If you have a special need, such as a disability, you can request an appointment. Senior tax stimulus check Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. Senior tax stimulus check Apply for an Employer Identification Number (EIN). Senior tax stimulus check Go to IRS. Senior tax stimulus check gov and enter Apply for an EIN in the search box. Senior tax stimulus check Read the Internal Revenue Code, regulations, or other official guidance. Senior tax stimulus check Read Internal Revenue Bulletins. Senior tax stimulus check Sign up to receive local and national tax news and more by email. Senior tax stimulus check Just click on “subscriptions” above the search box on IRS. Senior tax stimulus check gov and choose from a variety of options. Senior tax stimulus check Phone. Senior tax stimulus check    You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. Senior tax stimulus check Download the free IRS2Go app from the iTunes app store or from Google Play. Senior tax stimulus check Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. Senior tax stimulus check gov, or download the IRS2Go app. Senior tax stimulus check Low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Senior tax stimulus check The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Senior tax stimulus check Most VITA and TCE sites offer free electronic filing. Senior tax stimulus check Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. Senior tax stimulus check Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. Senior tax stimulus check Call the automated Where's My Refund? information hotline to check the status of your 2013 refund 24 hours a day, 7 days a week at 1-800-829-1954. Senior tax stimulus check If you e-file, you can start checking on the status of your return within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Senior tax stimulus check The IRS issues more than 9 out of 10 refunds in less than 21 days. Senior tax stimulus check Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. Senior tax stimulus check Before you call this automated hotline, have your 2013 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. Senior tax stimulus check The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Senior tax stimulus check Note, the above information is for our automated hotline. Senior tax stimulus check Our live phone and walk-in assistors can research the status of your refund only if it's been 21 days or more since you filed electronically or more than 6 weeks since you mailed your paper return. Senior tax stimulus check Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. Senior tax stimulus check You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Senior tax stimulus check It can take up to 3 weeks from the date you mailed it to show up in our system. Senior tax stimulus check Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, publications, and prior-year forms and instructions (limited to 5 years). Senior tax stimulus check You should receive your order within 10 business days. Senior tax stimulus check Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. Senior tax stimulus check If, between January and April 15, you still have questions about the Form 1040, 1040A, or 1040EZ (like filing requirements, dependents, credits, Schedule D, pensions and IRAs or self-employment taxes), call 1-800-829-1040. Senior tax stimulus check Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. Senior tax stimulus check The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. Senior tax stimulus check These individuals can also contact the IRS through relay services such as the Federal Relay Service. Senior tax stimulus check Walk-in. Senior tax stimulus check   You can find a selection of forms, publications and services — in-person. Senior tax stimulus check Products. Senior tax stimulus check You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Senior tax stimulus check Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. Senior tax stimulus check Services. Senior tax stimulus check You can walk in to your local TAC for face-to-face tax help. Senior tax stimulus check An employee can answer questions about your tax account or help you set up a payment plan. Senior tax stimulus check Before visiting, use the Office Locator tool on IRS. Senior tax stimulus check gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. Senior tax stimulus check Mail. Senior tax stimulus check   You can send your order for forms, instructions, and publications to the address below. Senior tax stimulus check You should receive a response within 10 business days after your request is received. Senior tax stimulus check Internal Revenue Service 1201 N. Senior tax stimulus check Mitsubishi Motorway Bloomington, IL 61705-6613    The Taxpayer Advocate Service Is Here to Help You. Senior tax stimulus check The Taxpayer Advocate Service (TAS) is your voice at the IRS. Senior tax stimulus check Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. Senior tax stimulus check   What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. Senior tax stimulus check We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. Senior tax stimulus check You face (or your business is facing) an immediate threat of adverse action. Senior tax stimulus check You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. Senior tax stimulus check   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. Senior tax stimulus check Here's why we can help: TAS is an independent organization within the IRS. Senior tax stimulus check Our advocates know how to work with the IRS. Senior tax stimulus check Our services are free and tailored to meet your needs. Senior tax stimulus check We have offices in every state, the District of Columbia, and Puerto Rico. Senior tax stimulus check   How can you reach us? If you think TAS can help you, call your local advocate, whose number is in your local directory and at Taxpayer Advocate, or call us toll-free at 1-877-777-4778. Senior tax stimulus check   How else does TAS help taxpayers?  TAS also works to resolve large-scale, systemic problems that affect many taxpayers. Senior tax stimulus check If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System. Senior tax stimulus check Low Income Taxpayer Clinics. Senior tax stimulus check   Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals and tax collection disputes. Senior tax stimulus check Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. Senior tax stimulus check Visit Taxpayer Advocate or see IRS Publication 4134, Low Income Taxpayer Clinic List. Senior tax stimulus check Prev  Up  Next   Home   More Online Publications