You can deduct your college tuition and fees up to $4,000 off of your taxable income. The student loan interest you pay is deductible up to $2,500. Any credits you get will be the American Opportunity Credit for Undergrads, which is up to $2,500 off of your tax, or the Lifetime Learning Credit, which is up to $2,000 off of your tax. The Lifetime Learning Credit is not limited to undergrad.
What are itemized deductions?
Who can I claim as a Dependent?
How do I file an Amended return?
How do I get an extension on my taxes?
Can I file my taxes if I missed the deadline?
Can I deduct college tuition and fees?
You can still file your tax return after the deadline, but the longer you wait, the higher your late penalties and interest will be. So it's better to get it done early.
In order to file an extension, just come down to the office with your name, address, date of birth, and Social Security numbers for you, your spouse, and all of your dependents.
"It's not what you make, it's what you keep!"
Itemized deductions can include: - Medical expenses minus 10% of your income - State, local and real estate taxes - Interest paid on mortgages and investments - Charity (cash or non-cash) - Any reimbursed job expenses minus 2% of your income If you don't have any of those, you will still get a $6,300 standard deduction credit.
Have questions? Our staff is here to help.
Dependents can be anyone that you provide care for. If they can support themselves, you can't claim them, and they can only be on one return at a time. Each dependent gives you $4,000 off of your taxable income.
If you haven't received your refund, go to irs.gov and use the "Where's My Refund" tool. All you need is your social security number, your filing status, and your refund amount. They'll give you an expected date.
Federal amended tax returns need to be mailed to the appropriate IRS Center. You can find which one is your's at irs.gov