answersLogoWhite

0


Best Answer

"People that want to claim the Hope Credit on their taxes must follow the certain rules. It can only be done in the first two years of college, student must at least be a half time student, cannot be used for tuition that was paid for using scholarship funds, grants or employer money and the student must have no felony drug convictions."

User Avatar

Wiki User

12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What are the rules for claiming the Hope Credit on taxes?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Is hope credit considered good?

Hope credit is a good tax credit for education. It�۪s to help your education with a tax credit. There are eligibility rules that you need to research in order to make sure you follow the requirements.


How do you claim hope scholarship on taxes?

Starting in 2009, the Hope Credit is now the American Opportunity Tax Credit. You can claim it by filing Form 8863 and attached to Form 1040.


How much can someone get for claiming an adult dependent on taxes?

Of course, they must be a "qualified relative" before you can even hope to claim them. It depends on your specific tax situation, but each dependent is worth +/- $750 of additional refund.


Is hope credit a site that helps you to get to a credit score you hope for?

The Hope Credit is a tax credit for students enrolled in universities or higher education in a disaster area. It will not affect your credit score.


How can someone legally not pay taxes?

If they have tax exempt income for items such as a Roth IRA, then they do not have a tax burden. Also, it possible with low income and tax credits such as the child tax credit, Hope credit, and earned income credit, so have your total income tax reduced to zero.


How much money will you get back in taxes while in school?

It is virtually impossible to answer this question without specific details. Your tax return will depend on how much money you made and paid in taxes throughout the year. It will also vary if you have dependents, if you are claimed as a dependant, if you are married, have a mortgage, are self employed, and if you claim credits such as the hope credit.


What presidents fought on reducing taxes?

all id hope


Student Tip: Pick the Best Deduction?

When filing an income tax return form, college students and grad school students only have a few options for claiming educational deductions. Students may also only choose one of these deductions to take advantage of in a tax return. These three deductions are the Hope Learning Credit, the Lifetime Learning Credit, and the American Opportunity Credit. Typically, the best credit for students is the American Opportunity Credit. However, it pays to play around with the figures and try to figure out the calculations for each credit. You may be surprised by the funds you are able to receive from a particular educational credit.


How can you identify credit card from dedit card?

Credit cards say "credit" And debit cards say "debit". Hope this helps!


When The Stamp Act placed taxes on various documents saying the taxes would be used for?

The Stamp Act placed taxes on various documents, saying the taxes would be used for defense of the colonies.-Hope this helped. (:


Are countries helping the UK in the credit crunch?

hope not


What are the release dates for Raising Hope - 2010 Credit Where Credit Is Due 3-11?

Raising Hope - 2010 Credit Where Credit Is Due 3-11 was released on: USA: 8 January 2013 Hungary: 16 April 2013 Spain: 24 July 2013