***attention all u.s.a. College students***

[SteveRyan]

If you are a US citizen, and went to college throughout 2011, make sure to take advantage of The American Opportunity Credit.

It is an extra $2500 added to your normal tax return.

Originally, it started as the Hope Scholarship Credit, but was extended for 2011 and 2012.

The max is $2500...and you will most likely qualify for all of it.

If you go to college next year, you can claim it for that tax year as well.

Sorry if you missed it over the last few years.

http://en.wikipedia.org/wiki/American_opportunity_tax_credit

http://www.irs.gov/newsroom/article/0,,id=205674,00.html

You're welcome

[jjgold]

Nice heads up
Too many college kids smoking pot and have no clue

Ryan your a Fukkin clean cut guy

[SteveRyan]

Thanks man.

It's easy to over-look if nobody mentions it and you do your own taxes.

[WvGambler]

Nice looking out. Young guys listen up

[Smoke]

Stevie you're good guy

[milwaukee mike]

guys can amend those prior years' returns if they missed it

some of that credit you have to have income, but I think some of it is a credit even for guys with no job

[milkncereal]

have to be an independent tho, i believe......most college kids with a little cash to bet probably are getting claimed by a parent/s

[Deuce]

Where should I use it to reload?

[flocko76]

turbo tax does all this for you. it did for me. the problem is most college students are still dependents claimed by their parents, so I think if the parents pay the tuition the student doesn't get the tax credit.

[jjgold]

Where should I use it to reload?

Deuce so typical of you..compulsive gambler in denial

[SteveRyan]

Where should I use it to reload?

I know right!!

IRS probably wouldn't like me posting this on a gambling forum. Who cares though....nobody uses the money for books and shit.

[onetrickpony]

Good looking out ryan but I have no job lol can't get shit pal

[milkncereal]

also for the presidential debates...the loans for students is slated to go from 3 points to over 6 points....a 10k difference on a average 4 year degree. President or maybe conrgress not sure which will have to vote in 2012 to keep the fed. backed loans at 3 points...if they raise them to the original pre bush era of 6% government could net 150 billion a year. If your young or think we need to invest education this is a big deal, if your old/dont care about keeping high education standards well this 150 billion could go to a lot of other needs.

sorry if this tangent somewhat threadjacks

[ttwarrior1]

90 percent of college students still don't qualify for it

[milwaukee mike]

have to be an independent tho, i believe......most college kids with a little cash to bet probably are getting claimed by a parent/s

if the parents are claiming the kid as a dependent, then the parents can get the credit

let your parents know, they might be missing this - just say the parents paid the tuition or are on the hook for the loan

[SteveRyan]

Good looking out ryan but I have no job lol can't get shit pal

You might be eligible.

Q12. Who is an eligible student for the American opportunity tax credit?
A. For the American opportunity tax credit, an eligible student is a student who: (1) is enrolled in a program leading toward a degree, certificate or other recognized post-secondary educational credential; (2) has not completed the first four years of post-secondary education as of the beginning of the taxable year; (3) for at least one academic period is carrying at least ½ of the normal full-time work load for the course of study the student is pursuing; and (4) has not been convicted of a felony drug offense.

[daneault23]

You might be eligible.

Q12. Who is an eligible student for the American opportunity tax credit?
A. For the American opportunity tax credit, an eligible student is a student who: (1) is enrolled in a program leading toward a degree, certificate or other recognized post-secondary educational credential; (2) has not completed the first four years of post-secondary education as of the beginning of the taxable year; (3) for at least one academic period is carrying at least ½ of the normal full-time work load for the course of study the student is pursuing; and (4) has not been convicted of a felony drug offense.

I'm in my 5th year . Changed majors so it's taking a little longer than the four "traditional" years.

[onetrickpony]

I'm in my 5th year . Changed majors so it's taking a little longer than the four "traditional" years.

im on pace for 6 yrs, what can i say besides i love college

[sneakerhead]

im on pace for 6 yrs, what can i say besides i love college

word up lol

[Deuce]

I'm in my 5th year . Changed majors so it's taking a little longer than the four "traditional" years.

Chances are you'll be fine. They won't know the difference.

[Hawkeye2011]

I qualified for this and got a huge refund......put it all on red?

[onetrickpony]

I qualified for this and got a huge refund......put it all on red?

thats racist

[RedSox88]

just did this as well bumped up my refund by a full $1000

Good lookin out got over 3K comin back guess someone will enjoy march madness in vegas

[SteveRyan]

just did this as well bumped up my refund by a full $1000

Good lookin out got over 3K comin back guess someone will enjoy march madness in vegas

First thing I'm gonna do is get my rings out of the pawn shop. Need some minor work done to the car also.

[SteveRyan]

Oh...and maybe I'll go PRO

[SteveRyan]

Finally got my tax return today. Took longer than usual because there was some sort of IRS glitch that pushed everyone back a few days.

[crzbrave]

If you went for just the spring Feb-June ( and one 2 month summer class) do you still qualify?

[SteveRyan]

If you went for just the spring Feb-June ( and one 2 month summer class) do you still qualify?

I went to college from January 2011 thru June 2011 and qualified for $2500.

Take your 1098T and W2's to a tax man and have him do it for you. It's well worth the $50 to $100 that he will charge you.

I haven't done my own taxes in years. For the tax year 2004, I took it to my tax man. The following tax year, I decided it was easy so I did it myself. Oops!

I was audited for that year (2005) and ended up paying the IRS about $2400. Fortunately, I had a large return that year. It covered what I owed them and left me with a little over $1000.

After being audited I feel much safer just having the tax man do it for me. He charges me $85....big deal.

[daneault23]

I just did my FAFSA and apparently I'm considered an "indepenent" now and I don't have to put my parents tax info

No more loans and hopefully get grants for the next year