How do I determine which expenses will qualify for the Hope Scholarship and Lifetime Learning Credits?
Each individual must determine which, if any, of the expenses paid may be used in the calculation of the education tax credits. Generally the only qualified expenses are tuition and fees for enrollment or attendance less the net of scholarships, grants, and VA benefits. Please note that any amounts paid for room and board, insurance, medical fees, transportation, and similar living expenses are not considered eligible. If you have additional questions regarding these qualifications please contact your tax preparer.
Related Questions
- If I receive Form 1098-T, does it mean I qualify for the Hope Scholarship or Lifetime Learning Tax Credits or the Tuition and Fees Deduction?
- How do I determine which expenses will qualify for the Hope Scholarship, Lifetime Learning Credits, or other tax benefits?
- How do I determine which expenses will qualify for the Hope Scholarship and Lifetime Learning Credits?
