Posted on 18 October 2011.
Question by BCK!ILF: What is the highest possible "Hope credit" I can get on my 2008 taxes?
college student here, married with kids.
Best answer:
Answer by v b
$ 1800. (More if in Midwest disaster area.)
If your tuition was $ 10,000, look at lifetime instead.
Give your answer to this question below!
has anyone heard of a compnay that sells "credit"?
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Big Deal Maker: Yes you do qualify. Go to your accountant they wil...
Lillie A: When you get a loan for a care that IS credit. You...
jst_askn: the episode when peter thanks jesus when the hindu...
Phil: This means that if you live in Quebec you'll pay 6...
There are a few more factors that you have to consider before figuring out what the highest amount is.
The amount of income you earned. The amount of income that is taxable. The amount of tax calculated on your income. Any other credits you are eligible for before you calculate the education credit.
Regardless of how much you paid, you will want to check all of the educational options to make sure you are getting the best option for your tax situation. (Hope Credit, Lifetime Learning Credit, Tuition and Fees deduction.) Not only can this impact your federal return, but it may also impact your state return.
Shannon Coley – H&R Block – Senior Tax Advisor 5
** This advice was prepared based on my understanding of the tax law in effect at the time it was written as it applies to the facts you provided. Click on my profile to read more.