Tax Form 1098-T 🎓 Education Credits Explained скачать в хорошем качестве

Tax Form 1098-T 🎓 Education Credits Explained

What is tax Form 1098-T, who receives and how to use it to claim Education Credits. It will walk you box-by-box through all the information listed there. You will learn how not all the expenses can be listed on the form and that you should claim any additional expenses on Form 8863. The two main education credits - American Opportunity Tax Credit (AOTC) and Lifetime Learning Credits (LLC) are also talked about in detail. ———————CHAPTERS————————— Timecodes: 00:00 - Intro to 1098-T 02:10 - Refundable vs. Nonrefundable credit 03:03 - Education Credits Flow Chart 04:14 - Payments for qualified expenses 05:34 - Adjustments that could lead to amendment 07:08 - Scholarships 09:40 - American Opportunity Credit vs. Lifetime Learning Credit 14:07 - Supporting documents to prove AOTC —————————LINKS—————————————— The 15 Most Common Tax Forms in 2022 (+Infographics) article:   / 15-most-common-tax-forms-in-2022   Boost Your Tax IQ Book: shorturl.at/ijBU2 Form 1098-B box-by-box instructions: https://boostyourtaxiq.com/resources IRS instructions for 1098-t are at https://www.irs.gov/pub/irs-pdf/i1098... Standard Deduction 2021-2022: https://www.nerdwallet.com/article/ta... When is Scholarship Taxable: https://www.irs.gov/taxtopics/tc421 Form 8863: https://www.irs.gov/pub/irs-pdf/f8863... Form 8863 Instructions: https://www.irs.gov/pub/irs-pdf/i8863... Tax Benefits for Education: https://www.irs.gov/pub/irs-pdf/p970.pdf AOTC vs. LLC Comparison on IRS website: https://www.eitc.irs.gov/other-refund... AOTC 2-10 year bans: https://www.irs.gov/credits-deduction... Documents You Need to Claim AOTC: https://www.eitc.irs.gov/eitc/files/d... Tax Benefits for Education: https://www.irs.gov/newsroom/tax-bene... ——————————DISCLOSURE——————————— The information presented in this video is for informational and educational purposes only. It is not intended to render tax advice for any specific situation. Those needing assistance with a specific situation should consult with a qualified Tax Professional. The information in this video is based on current tax law and IRS regulations as of date of publication and is subject to change. #taxguide101 #akistepinska