Major Topics
Learning Objectives
- Identify deductible education expenses and travel costs under the requirements of ?162.
- Determine the qualified credit amounts under the HOPE (“American Opportunity”) Credit and the requirements of Coverdell education savings accounts.
- Identify the deductible amount to claim for ?221 student loan interest and recognize the permissible benefits of ?529 qualified tuition programs.
- Specify the tax-free benefits of ?117 scholarships and fellowships and who is eligible for a ?132 qualified tuition reduction.
- Identify educational incentives and financial aid requirements to meet college funding needs.
Course Description
Today taxpayers must plan for their children’s education. Touching on various topics such as qualified tuition programs (QTPs), scholarships, and fellowships, this mini-course examines the tax treatment of costs related to education. Practitioners will learn the ins and outs of the tax benefits concerning education and will be able to identify those educational expenses that are deductible. Additionally, financial planning strategies and techniques are outlined to better prepare taxpayers for future educational costs.
Compliance Information
Advanced Preparation
None
Field of Study
Taxes
Credits
2 Credits
Published Date
June 13, 2023
Revision Date
February 22, 2024Course Authors
Danny Santucci
All of our self-study courses are NASBA approved (through our partners at K2 Enterprises) the revisions to the Statement on Standards for Continuing Professional Education (CPE) Programs (Standards).
Your Registration Includes:
- Course materials (video & PDF version)
- Unlimited attempts to complete exam
- Course materials (PDF & Sample Materials)
- Instant grading & certificate of completion
- One year access to complete your CPE
- Completion certificate
