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Tax question, how would you interpret student status
I am doing someone's taxes for them using H&R at Home. But am having trouble figuring out which education credits she qualifies for. It asks if she is a student in the first 4 yrs of a post secondary education. Well, she is in her 5th year of college at a 2 yr school. BUT, her first two years were non-credit 09- level courses. Also ,it asks if she is at least half time, she takes no more than 6 credits a semester. It doesn't define half time. I have asked for her mother to look up what how many years they claimed her college tuition, I was going to go by that. If they claimed it for 4 years already.
As it stand now, she worked 5 months out of the year and made less than $3000 working, then collected $3200 in unemployment benefits. She paid in a grand total of $126 in federal and $61 in state. Her 'refund' is just over $1000 federal and $261 in state. It just seems so wrong to be getting so much free money for doing nothing!!!
Re: Tax question, how would you interpret student status
When my accountant does my taxes, I give her my tution bill paid receipt.
She gives me a credit for that. I have never claimed student status. I was always in grad school and post graduate school when I received this credit. I was also always working - either full time or part time). I also was never taking more than 6 credit hours a semester and in the summer.
Hope this helps....
The joys of teaching!
A full-time student is considered to be taking 12 credits or more so anything under that would be part-time IMO. The way to determine what "year" she is in would be to see how many college credits she has and what her class standing is.
Typically, a 4yr institution requires approximately 120+ credits to graduate so if they have earned 60 credits then they would be of sophomore standing.
I assume that her parents aren't claiming her on their taxes and that she is paying for schooling. If that is the case then I would say you can claim the education credit.
You may want to go to irs.gov to check the language of the various education credit criteria.
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