Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 10-14-2014, 09:01 AM
Junior Member
 
Join Date: Oct 2014
Posts: 1
Question Can I claim the AOTC credit for 2014 for expenses for spring 2015?

Hi,

I'm returning to school in Spring 2015 and will be enrolled in a degree-granting program. I have not been in school since around 2011. In November, I am ordering books and other course materials. Can I claim the American Opportunity Tax Credit for tax year 2014 based on these expenses for spring 2015?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 10-15-2014, 09:18 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,100
Quote:
Originally Posted by BrokeStudent2015 View Post
Hi,

I'm returning to school in Spring 2015 and will be enrolled in a degree-granting program. I have not been in school since around 2011. In November, I am ordering books and other course materials. Can I claim the American Opportunity Tax Credit for tax year 2014 based on these expenses for spring 2015?
yes;amounts paid in 2014 for an academic period that begin before Apr 1 2015, are eligible expenses for 2014.The AOC is available for the year in which the qualified edu expenses are paid.qualified edu expenses for AOC are;books, supplies, and eqmt needed for course of study whether or not the materials are purchased from the edu institution.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
AOTC Tax Credit HELP PLEASE!! FOXHOUND88 Tax Credit 3 04-15-2014 04:22 AM
Government announces that the "Small Business Health Care Tax Credit is set to increase in 2014." TaxGuru For 2013 0 12-03-2013 08:06 PM
Can I claim mileage along with actual auto repair expenses? andri Auto Expenses 3 12-05-2011 06:36 AM
Can I claim temporary living expenses as business expenses for a 3 month paid fellowship/internship? thunder Itemized Deductions 5 11-15-2011 11:53 PM
Most Workers Will See Bigger Paychecks this Spring, New Withholding Tables Available Samatg Tax News 0 02-23-2009 03:36 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning