Money Matters
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I just submitted my dispute to the IRS
They are trying to disallow the $2,000 education credit I took while I was a full-time student in my last semester of law school.
I just submitted the letter disputing their adjustment.... and attached 25 pages of documentation. Transcripts, student account records, lender records, emails, etc. They want documentation? I can paper them with documentation.
Lesson learned: turns out my record-keeping tendencies that everybody told me were over-compulsive were not so compulsive after all.
Re: I just submitted my dispute to the IRS
Table 3-1. Overview of the Lifetime Learning Credit for 2014
Maximum credit Up to $2,000 credit per return
Limit on modified adjusted gross income (MAGI) $128,000 if married filling jointly;
$64,000 if single, head of household, or qualifying widow(er)
Refundable or nonrefundable Nonrefundable—credit limited to the amount of tax you must pay on your taxable income
Number of years of postsecondary education Available for all years of postsecondary education and for courses to acquire or improve job skills
Number of tax years credit available Available for an unlimited number of tax years
Type of program required Student does not need to be pursuing a program leading to a degree or other recognized education credential
Number of courses Available for one or more courses
Felony drug conviction Felony drug convictions do not make the student ineligible
Qualified expenses Tuition and fees required for enrollment or attendance (including amounts required to be paid to the institution for course-related books, supplies, and equipment)
Payments for academic periods Payments made in 2014 for academic periods beginning in 2014 or beginning in the first 3 months of 2015