{"id":5070,"date":"2025-04-03T10:01:52","date_gmt":"2025-04-03T15:01:52","guid":{"rendered":"https:\/\/cookco.us\/news\/?p=5070"},"modified":"2025-04-03T10:02:00","modified_gmt":"2025-04-03T15:02:00","slug":"education-credits","status":"publish","type":"post","link":"https:\/\/cookco.us\/news\/education-credits\/","title":{"rendered":"Education Credits"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Review the education credits before filing a federal tax return<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There are&nbsp;two tax credits&nbsp;designed to help taxpayers reduce education costs: the&nbsp;<a href=\"https:\/\/links-1.govdelivery.com\/CL0\/https:%2F%2Fwww.irs.gov%2Fcredits-deductions%2Findividuals%2Faotc\/1\/01000195fc1fbbd7-276ab48a-d4b3-4491-b8c7-6a2e4018f84d-000000\/xqOzk7A-8AULKiji-cBtxmC3orxUBMC2Qqm_LAjnGBE=399\">American Opportunity Tax Credit<\/a>&nbsp;and the&nbsp;<a href=\"https:\/\/links-1.govdelivery.com\/CL0\/https:%2F%2Fwww.irs.gov%2Fcredits-deductions%2Findividuals%2Fllc\/1\/01000195fc1fbbd7-276ab48a-d4b3-4491-b8c7-6a2e4018f84d-000000\/OkKeQX5c1ykJH77BQrRCFnk1jzdx4l4bRqC2MtmTZ4U=399\">Lifetime Learning Credit<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Eligibility requirements<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For both tax credits, to be eligible:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The taxpayer, their spouse or their dependents must have taken post-high school coursework in tax year 2024.<\/li>\n\n\n\n<li>The student must have a&nbsp;<a href=\"https:\/\/links-1.govdelivery.com\/CL0\/https:%2F%2Fwww.irs.gov%2Fforms-pubs%2Fabout-form-1098-t\/1\/01000195fc1fbbd7-276ab48a-d4b3-4491-b8c7-6a2e4018f84d-000000\/Yp2IElbvZ4NdkG_J_RWmc-rw49C9FkxgqEj1unxl5pY=399\">Form 1098-T, Tuition Statement<\/a>, from an eligible educational institution. There are&nbsp;<a href=\"https:\/\/links-1.govdelivery.com\/CL0\/https:%2F%2Fwww.irs.gov%2Fpub%2Firs-pdf%2Fp970.pdf\/1\/01000195fc1fbbd7-276ab48a-d4b3-4491-b8c7-6a2e4018f84d-000000\/9JkeeNQiKetaVtiJ-08cD6wpIJzS8hlG6qBcO_1Osjo=399\">exceptions for some students<\/a>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Things taxpayers should know about the education tax credits<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The American Opportunity Tax Credit is:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Worth a maximum benefit of up to $2,500 per eligible student.<\/li>\n\n\n\n<li>Available only for the first four years at an eligible college or vocational school.<\/li>\n\n\n\n<li>For students pursuing a degree or other recognized education credential.<\/li>\n\n\n\n<li>Partially refundable. People could get up to $1,000 back.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The Lifetime Learning Credit is:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Worth a maximum benefit of up to $2,000 per tax return, per year.<\/li>\n\n\n\n<li>Available for all years of postsecondary education and for courses to acquire or improve job skills.<\/li>\n\n\n\n<li>Available for an unlimited number of tax years.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Claiming the credits<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To claim either credit, taxpayers must complete&nbsp;<a href=\"https:\/\/links-1.govdelivery.com\/CL0\/https:%2F%2Fwww.irs.gov%2Fforms-pubs%2Fabout-form-8863\/1\/01000195fc1fbbd7-276ab48a-d4b3-4491-b8c7-6a2e4018f84d-000000\/4Ng3zKNABM3oo0p4pU7dDahpnGAvnCkPN6R0ss1efZ4=399\">Form 8863, Education Credits<\/a>, and file it with their federal tax return.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>More information<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/links-1.govdelivery.com\/CL0\/https:%2F%2Fwww.eitc.irs.gov%2Fother-refundable-credits-toolkit%2Fcompare-education-credits%2Fcompare-education-credits\/1\/01000195fc1fbbd7-276ab48a-d4b3-4491-b8c7-6a2e4018f84d-000000\/SagSamvGudeCe83pwktgDl65wQiqDhCxLoMpfj4T34Y=399\">Compare education credits<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/links-1.govdelivery.com\/CL0\/https:%2F%2Fwww.irs.gov%2Fnewsroom%2Ftax-benefits-for-education-information-center\/1\/01000195fc1fbbd7-276ab48a-d4b3-4491-b8c7-6a2e4018f84d-000000\/To6nCYR2mnP77IZlwNF_OLYFR-LJlN5VHsKbVDsCGAY=399\">Tax benefits for education: Information center<\/a><\/li>\n<\/ul>\n\n\n<pre class=\"ti-widget\" style=\"display: none\"><template id=\"trustindex-google-widget-html\"><div class=\" ti-widget  ti-goog ti-review-text-mode-readmore ti-text-align-left\" data-no-translation=\"true\" data-time-locale=\"%d %s ago|today|day|days|week|weeks|month|months|year|years\" 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Buddy Fricke has been invaluable and makes sure we get the most from our tax return.  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Shout out for Brett Carpenter, tax guy for 3 years. We recommend people to Cook &amp; Co all the time.<!-- R-CONTENT --><\/div> <span class=\"ti-read-more\" data-container=\".ti-review-content\" data-collapse-text=\"Hide\" data-open-text=\"Read more\"><\/span> <\/div> <\/div>  <div data-empty=\"0\" data-time=\"1712880000\" class=\"ti-review-item source-Google ti-image-layout-thumbnail\" data-id=\"cfcd208495d565ef66e7dff9f98764da\"> <div class=\"ti-inner\"> <div class=\"ti-review-header\"> <div class=\"ti-platform-icon ti-with-tooltip\"> <span class=\"ti-tooltip\">Posted on <\/span> <trustindex-image data-imgurl=\"https:\/\/cdn.trustindex.io\/assets\/platform\/Google\/icon.svg\" alt=\"\" width=\"20\" height=\"20\" loading=\"lazy\"><\/trustindex-image> <\/div> <div class=\"ti-profile-img\"> <trustindex-image data-imgurl=\"https:\/\/lh3.googleusercontent.com\/a\/ACg8ocIBlPD0DS1uMWRdgt6Vk8J6sFY5F8o_AdKi02kDEk7DoA-b_A=w40-h40-c-rp-mo-br100\" alt=\"Charles Teasley profile picture\" loading=\"lazy\"><\/trustindex-image> <\/div> <div class=\"ti-profile-details\"> <div class=\"ti-name\"> Charles Teasley <\/div> <div class=\"ti-date\"><\/div> <\/div> <\/div> <span class=\"ti-stars\"><trustindex-image class=\"ti-star\" data-imgurl=\"https:\/\/cdn.trustindex.io\/assets\/platform\/Google\/star\/f.svg\" alt=\"Google star 1\" width=\"17\" height=\"17\" loading=\"lazy\"><\/trustindex-image><trustindex-image class=\"ti-star\" data-imgurl=\"https:\/\/cdn.trustindex.io\/assets\/platform\/Google\/star\/f.svg\" alt=\"Google star 2\" width=\"17\" height=\"17\" loading=\"lazy\"><\/trustindex-image><trustindex-image class=\"ti-star\" data-imgurl=\"https:\/\/cdn.trustindex.io\/assets\/platform\/Google\/star\/f.svg\" alt=\"Google star 3\" width=\"17\" height=\"17\" loading=\"lazy\"><\/trustindex-image><trustindex-image class=\"ti-star\" data-imgurl=\"https:\/\/cdn.trustindex.io\/assets\/platform\/Google\/star\/f.svg\" alt=\"Google star 4\" width=\"17\" height=\"17\" loading=\"lazy\"><\/trustindex-image><trustindex-image class=\"ti-star\" data-imgurl=\"https:\/\/cdn.trustindex.io\/assets\/platform\/Google\/star\/f.svg\" alt=\"Google star 5\" width=\"17\" height=\"17\" loading=\"lazy\"><\/trustindex-image><span class=\"ti-verified-review ti-verified-platform\"><span class=\"ti-verified-tooltip\">Trustindex verifies that the original source of the review is Google.<\/span><\/span><\/span> <div class=\"ti-review-text-container ti-review-content\"><!-- R-CONTENT -->Mary has been my accountant for more years than I can count. I\u2019ve never been happier with her work. A great CPA.<!-- R-CONTENT --><\/div> <span class=\"ti-read-more\" data-container=\".ti-review-content\" data-collapse-text=\"Hide\" data-open-text=\"Read more\"><\/span> <\/div> <\/div>  <\/div> <div class=\"ti-controls-line\"> <div class=\"dot\"><\/div> <\/div> <\/div>   <div class=\"ti-verified-by ti-verified-by-row\" data-style=\"1\"> <div class=\"ti-inner\"> Verified by Trustindex <span class=\"ti-info-icon\"><\/span> <div class=\"ti-disclaimer\">Trustindex verified badge is the Universal Symbol of Trust. Only the greatest companies can get the verified badge who has a review score above 4.5, based on customer reviews over the past 12 months. <a href=\"https:\/\/www.trustindex.io\/?a=sys&amp;c=wp-verified-badge&amp;url=\/the-trustindex-verified-badge\/\" target=\"_blank\">Read more<\/a><\/div> <\/div> <\/div>  <\/div> <\/div> <\/template><\/pre><div data-src=\"https:\/\/cdn.trustindex.io\/loader.js?wp-widget\" data-template-id=\"trustindex-google-widget-html\" data-css-url=\"https:\/\/cookco.us\/news\/wp-content\/uploads\/trustindex-google-widget.css?1776179310\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Review the education credits before filing a federal tax return There are&nbsp;two tax credits&nbsp;designed to help taxpayers reduce education costs: the&nbsp;American Opportunity Tax Credit&nbsp;and the&nbsp;Lifetime Learning Credit. Eligibility requirements For both tax credits, to be eligible: Things taxpayers should know about the education tax credits The American Opportunity Tax Credit is: The Lifetime Learning Credit [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4815,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"2025-04-03T15:02:26Z","apple_news_api_id":"659f97d9-547f-404b-bc99-7f05a663e334","apple_news_api_modified_at":"2025-04-03T15:02:26Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/AZZ-X2VR_QEu8mX8FpmPjNA","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[82],"tags":[99,60],"class_list":["post-5070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax","tag-credits","tag-education"],"apple_news_notices":[],"_links":{"self":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/5070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/comments?post=5070"}],"version-history":[{"count":3,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/5070\/revisions"}],"predecessor-version":[{"id":5073,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/5070\/revisions\/5073"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media\/4815"}],"wp:attachment":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media?parent=5070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/categories?post=5070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/tags?post=5070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}