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College Students Tax Breaks---Direct Deductions!

huntmaster

New member
Most of the students here probably allready know about these, and I hope it is not too late for those who didnt know about it.

Its the HOPE credit and the Lifetime Learning Credit. The Hope Credit offers up to a $1500 direct deduction for freshmen and sophomores and the LLC offers up to $1000 a year for juniors, seniors and grad students.

There are income brackets that dont qualify and I believe that if you are a dependant, of course your folks get the credit, but maybe you can strike a deal with them--if they havent filed yet or if they will amend.

I used the HOPE and LLC in school and they helped BIG.

Peace Y'all

Oh yeah--here is a link:

http://www.ed.gov/inits/hope/
 
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