Education Tax Credits & Education Tax Benefits
2.5 (1 rating)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
2,031 students enrolled

Education Tax Credits & Education Tax Benefits

American Opportunity Tax Credit, Lifetime Learning Tax Credit, Student Loan Interest Deduction, (ESA), (QTP)
2.5 (1 rating)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
2,031 students enrolled
Last updated 3/2019
English
English [Auto]
Current price: $139.99 Original price: $199.99 Discount: 30% off
23 hours left at this price!
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This course includes
  • 9.5 hours on-demand video
  • 6 articles
  • 78 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • List Education Tax Credits and Education Tax Benefits
  • Describe the American Opportunity Tax Credit
  • Explain the Amount of Tax Benefit for the American Opportunity Tax Credit
  • Complete Tax Documentation Related to the American Opportunity Tax Credit
  • Describe the Lifetime Learning Tax Credit
  • Explain the Amount of Tax Benefit for the Lifetime Learning Tax Credit
  • Complete Tax Documentation Related to the Lifetime Learning Tax Credit
  • Describe Tax Benefits For Student Loan Interest Deduction
  • Complete Tax Documentation Related to the Student Loan Interest Deduction
  • Describe Tax Benefits For Coverdell Education Savings Account (ESA)
  • Complete Tax Documentation Related to the Coverdell Education Savings Account (ESA)
  • Describe Tax Benefits For Qualified Tuition Program (QTP)
  • Complete Tax Documentation Related to the Qualified Tuition Program (QTP)
Requirements
  • Some understanding of US income tax law
Description

This education tax credits & education tax benefits course will discuss tax benefits related to education, focusing on education tax credits including the American Opportunity Tax Credit and the Lifetime Learning tax credit.

The course will describe the benefits of the American Opportunity Tax Credit, giving practical examples using actual tax forms. As we learn the concepts of the American Opportunity tax credit, we will run examples and scenarios using tax software and tax forms to get a feel of how the credit reacts to different tax circumstances.

We will describe the benefits of the Lifetime Learning Tax Credit, giving practical examples using actual tax forms. As we learn the concepts of the Lifetime Learning tax credit, we will run examples and scenarios using tax software and tax forms to get a feel of how the credit reacts to different tax circumstances.

The course will discuss how the American Opportunity tax credit and Lifetime Learning tax credit interact with each other and how to maximize tax benefits.

We will discuss the deduction for student loan interest, describing circumstances where student loan interest is deductible, and giving practical examples using tax forms.

The course will discuss the tax benefits of a Coverdell Education Savings Accounts (ESA). We will consider how a Coverdell Education Savings Accounting (ESA) is set up, the tax benefits, and tax consequences of distributions. The course will also discuss how the Coverdell Education Saving Account (ESA) works or coordinates with education credits like the American Opportunity tax credit and Lifetime Learning tax credit.

We will discuss the tax benefits of a Qualified Tuition Program (QTP). We will discuss how a Qualified Tuition Program (QTP) is set up, the tax benefits, and tax consequences of distributions. The course will also explain how the Qualified Tuition Program (QTP) works or coordinates with education credits like the American Opportunity credit and Lifetime Learning credit.

Who this course is for:
  • Anybody who wants to save on taxes
  • Tax professionals
Course content
Expand all 151 lectures 09:41:14
+ Education Tax Benefits
21 lectures 01:08:35
2 Education Tax Benefits
00:26
Documents to Download for Reference
00:01
PDF - 508 Reminders
00:08
508 Reminders
13:44
PDF - 511 Scholarships, Fellowship Grants, Grants, and Tuition Reductions Intro
00:08
PDF - 514 Scholarships and Fellowship Grants
00:08
514 Scholarships and Fellowship Grants
02:17
PDF - 517 Tax-Free Scholarships and Fellowship Grants
00:08
517 Tax-Free Scholarships and Fellowship Grants
14:11
PDF - 521 Reporting Scholarships and Fellowship Grants
00:08
521 Reporting Scholarships and Fellowship Grants
06:26
PDF - 525 Other Types of Educational Assistance
00:08
525 Other Types of Educational Assistance
01:29
PDF - 528 Veterans' Benefits
00:08
528 Veterans' Benefits
02:52
PDF - 532 Qualified Tuition Reduction
00:08
532 Qualified Tuition Reduction
10:59
Accounting Comic Break
00:14
+ American Opportunity Tax Credit
39 lectures 03:14:28
3 American Opportunity Tax Credit
01:30
Documents to Download for Reference
00:01
PDF - 605 Reminders
00:08
605 Reminders
07:51
PDF - 608 Introduction
00:08
608 Introduction
11:45
PDF - 611 Table-Overview of Credit
00:08
611 Table-Overview of Credit
11:54
PDF - 614 Can You Claim the Credit
00:08
614 Can You Claim the Credit
16:41
PDF - 617 American Opportunity Credit Who Can't Claim the Credit
00:08
617 American Opportunity Credit Who Can't Claim the Credit
05:14
PDF - 621 What Expenses Qualify
00:08
621 What Expenses Qualify
05:33
PDF - 624 Table - Can You Claim the Credit
00:08
624 Table - Can You Claim the Credit
07:20
PDF - 627 Qualified Education Expense
00:08
627 Qualified Education Expense
09:29
PDF - 631 No Double Benefit Allowed
00:08
631 No Double Benefit Allowed
03:54
PDF - 636 Adjustments to Qualified Education Expenses
00:08
636 Adjustments to Qualified Education Expenses
14:11
PDF - 641 Adjustments to Qualified Education Expenses Examples
00:08
641 Adjustments to Qualified Education Expenses Examples
30:07
PDF - 644 Expenses That Don't Qualify
00:08
644 Expenses That Don't Qualify
04:56
PDF - 647 Who Is an Eligible Student
00:08
647 Who Is an Eligible Student
10:24
PDF - 651 Table - Who Is an Eligible Student
00:08
651 Table - Who Is an Eligible Student
04:35
PDF - 655 Who Can Claim a Dependent’s Expenses
00:08
655 Who Can Claim a Dependent’s Expenses
10:12
PDF - 658 Figuring the Credit
00:08
658 Figuring the Credit
14:51
PDF - 661 Effect of the Amount of Your Income on the Amount of Your Credit
00:08
661 Effect of the Amount of Your Income on the Amount of Your Credit
11:19
PDF - 664 Refundable Part of Credit
00:08
664 Refundable Part of Credit
10:03
Accounting Comic Break
00:14
+ Lifetime Learning Tax Credit
29 lectures 02:06:30
4 Lifetime Learning Tax Credit
01:18
Documents to Download for Reference
00:01
PDF - 705 Introduction
00:08
705 Introduction
10:14
PDF - 708 Can You Claim the Credit
00:08
708 Can You Claim the Credit
09:16
PDF - 711 Who Can't Claim the Credit
00:08
711 Who Can't Claim the Credit
03:33
PDF - 714 What Expenses Qualify
00:08
714 What Expenses Qualify
04:56
PDF - 717 Qualified Education Expenses
00:08
717 Qualified Education Expenses
07:24
PDF - 721 No Double Benefit Allowed
00:08
721 No Double Benefit Allowed
04:53
PDF - 725 Adjustments to Qualified Education Expenses
00:08
725 Adjustments to Qualified Education Expenses
22:10
PDF - 728 Coordination with Pell grants and other scholar-ships
00:08
728 Coordination with Pell grants and other scholar-ships
05:50
PDF - 729 Examples – Include or Exclude Scholarship in Income
00:08
729 Examples – Include or Exclude Scholarship in Income
14:14
PDF - 731 Expenses That Don't Qualify
00:08
731 Expenses That Don't Qualify
05:44
PDF - 735 Who Can Claim a Dependent's Expenses
00:08
735 Who Can Claim a Dependent's Expenses
09:54
PDF - 738 Figuring the Credit
00:08
738 Figuring the Credit
13:07
PDF - 741 Effect of the Amount of Your Income on the Amount of Your Credit
00:08
741 Effect of the Amount of Your Income on the Amount of Your Credit
11:58
Accounting Comic Break
00:14
+ Student Loan Interest Deduction
21 lectures 01:06:27
5 Student Loan Interest Deduction
00:44
Documents to Download for Reference
00:01
PDF - 802 Can You Claim the Deduction
00:08
802 Can You Claim the Deduction
10:32
PDF - 803 Figuring the Deduction
00:08
803 Figuring the Deduction
12:00
PDF - 804 Effect of the Amount of Your Income on the Amount of Your Deduction
00:08
804 Effect of the Amount of Your Income on the Amount of Your Deduction
11:50
PDF - 805 Student Loan Interest Defined
00:08
805 Student Loan Interest Defined
10:33
PDF - 809 Qualified Education Expenses
00:08
809 Qualified Education Expenses
05:05
PDF - 812 Adjustments to Qualified Education Expenses
00:08
812 Adjustments to Qualified Education Expenses
02:22
PDF - 816 Include as Interest
00:08
816 Include as Interest
03:20
PDF - 819 Allocating Payments Between Interest and Principal
00:08
819 Allocating Payments Between Interest and Principal
06:34
PDF - 823 Don't Include as Interest
00:08
823 Don't Include as Interest
02:14
Accounting Comic Break
Processing..
+ Coverdell Education Saving Account (ESA)
23 lectures 01:13:17
6 Coverdell Education Saving Account (ESA)
00:48
Documents to Download for Reference
00:01
PDF - 905 Introduction
00:08
905 Introduction
09:11
PDF - 908 What Is a Coverdell ESA
00:08
908 What Is a Coverdell ESA
05:13
PDF - 912 Qualified Education Expenses
00:08
912 Qualified Education Expenses
10:21
PDF - 915 Contributions
00:08
915 Contributions
06:47
PDF - 918 Contribution Limits
00:08
918 Contribution Limits
05:50
PDF - 921 Additional Tax on Excess Contributions
00:08
921 Additional Tax on Excess Contributions
05:22
PDF - 924 Rollovers and Other Transfers
00:08
924 Rollovers and Other Transfers
07:08
PDF - 927 Distributions
00:08
927 Distributions
11:07
PDF - 930 Coordination With American Opportunity and Lifetime Learning Credits
00:08
930 Coordination With American Opportunity and Lifetime Learning Credits
05:37
PDF - 933 Coordination With Qualified Tuition Program (QTP) Distributions
00:08
933 Coordination With Qualified Tuition Program (QTP) Distributions
04:18
Accounting Comic Break
00:14
+ Qualified Tuition Program (QTP)
17 lectures 47:55
7 Qualified Tuition Program (QTP)
00:39
Documents to Download for Reference
00:01
PDF - 955 What’s New
00:08
955 What’s New
01:18
PDF - 958 Introduction
00:08
958 Introduction
06:59
PDF - 961 What Is a Qualified Tuition Program
00:08
961 What Is a Qualified Tuition Program
10:29
PDF - 964 How Much Can You Contribute
00:08
964 How Much Can You Contribute
03:19
PDF - 967 Are Distributions Taxable
00:08
967 Are Distributions Taxable
11:15
PDF - 970 Coordination With American Opportunity & Lifetime Learning Credits
00:08
970 Coordination With American Opportunity & Lifetime Learning Credits
07:19
PDF - 973 Rollovers and Other Transfers
00:08
973 Rollovers and Other Transfers
05:25
Accounting Comic Break
00:15