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Education Tax Credit Question ( now NSFW)

Posted on 3/27/13 at 7:51 am
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
69876 posts
Posted on 3/27/13 at 7:51 am
I'm just curious, if I wanted to take night classes at a trade school, for let's say Auto Mechanics as an example, would that be eligible for the American Opportunity Tax Credit?

I already deduct my required Continuing Ed courses for my licenses, but I want the CREDIT.

Can you tell I'd rather have that money go anywhere besides the IRS?
This post was edited on 3/27/13 at 12:45 pm
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
69876 posts
Posted on 3/27/13 at 12:44 pm to
Bump

Posted by Poodlebrain
Way Right of Rex
Member since Jan 2004
19860 posts
Posted on 3/27/13 at 1:28 pm to
YOu probably won't meet the eligibility requiement as a 1/2 time student. See question 12 at the LINK.
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
69876 posts
Posted on 3/27/13 at 1:45 pm to
quote:

YOu probably won't meet the eligibility requiement as a 1/2 time student. See question 12 at the LINK.


Looks like my MAGI is too high to qualify for the credit. But what about a deduction? Could I claim the auto courses were usual and customary business expenses because of the mileage and/maintenance I require for my day to day operations?
Posted by Lsut81
Member since Jun 2005
80056 posts
Posted on 3/27/13 at 1:47 pm to
You should be able to claim the Continuing Education Credit...

I did for a certification I got a few months back from a University.
Posted by Tiger n Miami AU83
Miami
Member since Oct 2007
45656 posts
Posted on 3/27/13 at 2:37 pm to
Around 5 hours and no response.

Nice arse pic included, response rate sees 10 fold increase.
Posted by BROffshoreTigerFan
Edmond, OK
Member since Oct 2007
10004 posts
Posted on 3/27/13 at 3:13 pm to
arse sells
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
69876 posts
Posted on 3/27/13 at 3:27 pm to
quote:

arse sells


Yeah it does, unfortunately it's a unique type of commodity that most like to "Buy and Hold" even though it's a depreciating asset.
Posted by white perch
the bright, happy side of hell
Member since Apr 2012
7107 posts
Posted on 3/27/13 at 4:38 pm to
quote:

arse sells


quote:

Yeah it does, unfortunately it's a unique type of commodity that most like to "Buy and Hold"


I use mine for oil and gas exploration. I'm laying pipe on 3 different properties right now.

Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
69876 posts
Posted on 3/27/13 at 5:34 pm to
quote:

I'm laying pipe on 3 different properties right now.


It's always wise to diversify
Posted by BACONisMEATcandy
Member since Dec 2007
46643 posts
Posted on 3/27/13 at 6:41 pm to
If feel if the Money board and OT Lounge had a baby it would be this thread... Well done sir
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
69876 posts
Posted on 3/27/13 at 7:37 pm to
quote:

If feel if the Money board and OT Lounge had a baby it would be this thread... Well done sir


Since

<---------This machine runs on props

Let me show my appreciation
















Posted by Gmorgan4982
Member since May 2005
101750 posts
Posted on 3/27/13 at 8:54 pm to
Look into the Lifetime Learning Credit.

LINK
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