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Efile 2010 Taxes

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Efile 2010 Taxes

Efile 2010 taxes 2. Efile 2010 taxes   American Opportunity Credit Table of Contents Introduction Can You Claim the CreditWho Can Claim the Credit Who Cannot Claim the Credit What Expenses QualifyQualified Education Expenses No Double Benefit Allowed Expenses That Do Not Qualify Who Is an Eligible StudentException. Efile 2010 taxes Who Can Claim a Dependent's Expenses Figuring the CreditEffect of the Amount of Your Income on the Amount of Your Credit Refundable Part of Credit Claiming the Credit Introduction For 2013, there are two tax credits available to help you offset the costs of higher education by reducing the amount of your income tax. Efile 2010 taxes They are the American opportunity credit (this chapter) and the lifetime learning credit ( chapter 3 ). Efile 2010 taxes This chapter explains: Who can claim the American opportunity credit, What expenses qualify for the credit, Who is an eligible student, Who can claim a dependent's expenses, How to figure the credit, How to claim the credit, and When the credit must be repaid. Efile 2010 taxes What is the tax benefit of the American opportunity credit. Efile 2010 taxes   For the tax year, you may be able to claim an American opportunity credit of up to $2,500 for qualified education expenses paid for each eligible student. Efile 2010 taxes   A tax credit reduces the amount of income tax you may have to pay. Efile 2010 taxes Unlike a deduction, which reduces the amount of income subject to tax, a credit directly reduces the tax itself. Efile 2010 taxes Forty percent of the American opportunity credit may be refundable. Efile 2010 taxes This means that if the refundable portion of your credit is more than your tax, the excess will be refunded to you. Efile 2010 taxes   Your allowable American opportunity credit may be limited by the amount of your income. Efile 2010 taxes Also, the nonrefundable part of the credit may be limited by the amount of your tax. Efile 2010 taxes Overview of the American opportunity credit. Efile 2010 taxes   See Table 2-1, Overview of the American Opportunity Credit , for the basics of this credit. Efile 2010 taxes The details are discussed in this chapter. Efile 2010 taxes Can you claim more than one education credit this year. Efile 2010 taxes   For each student, you can elect for any year only one of the credits. Efile 2010 taxes For example, if you elect to take the American opportunity credit for a child on your 2013 tax return, you cannot use that same child's qualified education expenses to figure the lifetime learning credit for 2013. Efile 2010 taxes   If you pay qualified education expenses for more than one student in the same year, you can choose to take the American opportunity credit on a per-student, per-year basis. Efile 2010 taxes If you pay qualified education expenses for a student (or students) for whom you do not claim the American opportunity credit, you can use the adjusted qualified education expenses of that student (or those students) in figuring your lifetime learning credit. Efile 2010 taxes This means that, for example, you can claim the American opportunity credit for one student and the lifetime learning credit for another student in the same year. Efile 2010 taxes Differences between the American opportunity and lifetime learning credits. Efile 2010 taxes   There are several differences between these two credits. Efile 2010 taxes For example, you can claim the American opportunity credit based on the same student's expenses for no more than 4 tax years, which includes any tax years you claimed the Hope Scholarship Credit for that student. Efile 2010 taxes However, there is no limit on the number of years for which you can claim a lifetime learning credit based on the same student's expenses. Efile 2010 taxes The differences between these credits are shown in Appendix B, Highlights of Education Tax Benefits for Tax Year 2013 near the end of this publication. Efile 2010 taxes If you claim the American opportunity credit for any student, you can choose between using that student's adjusted qualified education expenses for the American opportunity credit or the lifetime learning credit. Efile 2010 taxes If you have the choice, the American opportunity credit will always be greater than the lifetime learning credit. Efile 2010 taxes Table 2-1. Efile 2010 taxes Overview of the American Opportunity Credit Maximum credit Up to $2,500 credit per eligible student Limit on modified adjusted gross income (MAGI) $180,000 if married filing jointly; $90,000 if single, head of household, or qualifying widow(er) Refundable or nonrefundable 40% of credit may be refundable; the rest is nonrefundable Number of years of postsecondary education Available ONLY if the student had not completed the first 4 years of postsecondary education before 2013 Number of tax years credit available Available ONLY for 4 tax years per eligible student (including any year(s) Hope Scholarship Credit was claimed) Type of program required Student must be pursuing a program leading to a degree or other recognized education credential Number of courses Student must be enrolled at least half time for at least one academic period that begins during the tax year Felony drug conviction As of the end of 2013, the student had not been convicted of a felony for possessing or distributing a controlled substance Qualified expenses Tuition, required enrollment fees, and course materials that the student needs for a course of study whether or not the materials are bought at the educational institution as a condition of enrollment or attendance Payments for academic periods Payments made in 2013 for academic periods beginning in 2013 or beginning in the first 3 months of 2014 Can You Claim the Credit The following rules will help you determine if you are eligible to claim the American opportunity credit on your tax return. Efile 2010 taxes Who Can Claim the Credit Generally, you can claim the American opportunity credit if all three of the following requirements are met. Efile 2010 taxes You pay qualified education expenses of higher education. Efile 2010 taxes You pay the education expenses for an eligible student. Efile 2010 taxes The eligible student is either yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. Efile 2010 taxes Student qualifications. Efile 2010 taxes   Generally, you can take the American opportunity credit for a student only if all of the following four requirements are met. Efile 2010 taxes As of the beginning of 2013, the student had not completed the first four years of postsecondary education (generally, the freshman through senior years of college), as determined by the eligible educational institution. Efile 2010 taxes For this purpose, do not include academic credit awarded solely because of the student's performance on proficiency examinations. Efile 2010 taxes Neither the American opportunity credit nor the Hope Scholarship Credit has been claimed (by you or anyone else) for this student for any four tax years before 2013. Efile 2010 taxes If the American opportunity credit (and Hope Scholarship Credit) has been claimed for this student for any three or fewer tax years before 2013, this requirement is met. Efile 2010 taxes For at least one academic period beginning (or treated as beginning) in 2013, the student both: Was enrolled in a program that leads to a degree, certificate, or other recognized educational credential; and Carried at least one-half the normal full-time workload for his or her course of study. Efile 2010 taxes The standard for what is half of the normal full-time work load is determined by each eligible educational institution. Efile 2010 taxes However, the standard may not be lower than any of those established by the U. Efile 2010 taxes S. Efile 2010 taxes Department of Education under the Higher Education Act of 1965. Efile 2010 taxes For purposes of whether the student satisfies this third requirement for 2013, treat an academic period beginning in the first three months of 2014 as if it began in 2013 if qualified education expenses for the student were paid in 2013 for that academic period. Efile 2010 taxes See Prepaid expenses, later. Efile 2010 taxes As of the end of 2013, the student had not been convicted of a federal or state felony for possessing or distributing a controlled substance. Efile 2010 taxes Example 1. Efile 2010 taxes Sharon was eligible for the Hope Scholarship Credit for 2007 and 2008 and for the American opportunity credit for 2010 and 2012. Efile 2010 taxes Her parents claimed the Hope Scholarship Credit for Sharon on their tax returns for 2007 and 2008 and claimed the American opportunity credit for Sharon on their 2010 tax return. Efile 2010 taxes Sharon claimed the American opportunity credit on her 2012 tax return. Efile 2010 taxes The American opportunity credit and Hope Scholarship Credit have been claimed for Sharon for four tax years before 2013. Efile 2010 taxes Therefore, the American opportunity credit cannot be claimed by Sharon for 2013. Efile 2010 taxes If Sharon were to file Form 8863 for 2013, she would check “Yes” for Part III, line 23, and would be eligible to claim only the lifetime learning credit. Efile 2010 taxes Example 2. Efile 2010 taxes Wilbert was eligible for the American opportunity credit for 2009, 2010, 2011, and 2013. Efile 2010 taxes His parents claimed the American opportunity credit for Wilbert on their tax returns for 2009, 2010, and 2011. Efile 2010 taxes No one claimed an American opportunity credit or Hope Scholarship Credit for Wilbert for any other tax year. Efile 2010 taxes The American opportunity credit and Hope Scholarship Credit have been claimed for Wilbert for only three tax years before 2013. Efile 2010 taxes Therefore, Wilbert meets the second requirement to be eligible for the American opportunity credit. Efile 2010 taxes If Wilbert were to file Form 8863 for 2013, he would check “No” for Part III, line 23. Efile 2010 taxes If Wilbert meets all of the other requirements, he is eligible for the American opportunity credit. Efile 2010 taxes Example 3. Efile 2010 taxes Glenda enrolls on a full-time basis in a degree program for the 2014 Spring semester, which begins in January 2014. Efile 2010 taxes Glenda pays her tuition for the 2014 Spring semester in December 2013. Efile 2010 taxes Because the tuition Glenda paid in 2013 relates to an academic period that begins in the first 3 months of 2014, her eligibility to claim an American opportunity credit in 2013 is determined as if the 2014 Spring semester began in 2013. Efile 2010 taxes If the requirements above are not met for any student, you cannot take the American opportunity credit for that student. Efile 2010 taxes You may be able to take the lifetime learning credit for part or all of that student's qualified education expenses instead. Efile 2010 taxes Note. Efile 2010 taxes Qualified education expenses paid by a dependent for whom you claim an exemption, or by a third party for that dependent, are considered paid by you. Efile 2010 taxes “Qualified education expenses” are defined later under Qualified Education Expenses . Efile 2010 taxes “Eligible students” are defined later under Who Is an Eligible Student . Efile 2010 taxes A dependent for whom you claim an exemption is defined later under Who Can Claim a Dependent's Expenses . Efile 2010 taxes You may find Figure 2-1, Can You Claim the American Opportunity Credit for 2013 , later, helpful in determining if you can claim an American opportunity credit on your tax return. Efile 2010 taxes This image is too large to be displayed in the current screen. Efile 2010 taxes Please click the link to view the image. Efile 2010 taxes Figure 2-1 Can you claim the American opportunity credit for 2012? Who Cannot Claim the Credit You cannot claim the American opportunity credit for 2013 if any of the following apply. Efile 2010 taxes Your filing status is married filing separately. Efile 2010 taxes You are listed as a dependent on another person's tax return (such as your parents'). Efile 2010 taxes See Who Can Claim a Dependent's Expenses , later. Efile 2010 taxes Your modified adjusted gross income (MAGI) is $90,000 or more ($180,000 or more in the case of a joint return). Efile 2010 taxes MAGI is explained later under Effect of the Amount of Your Income on the Amount of Your Credit . Efile 2010 taxes You (or your spouse) were a nonresident alien for any part of 2013 and the nonresident alien did not elect to be treated as a resident alien for tax purposes. Efile 2010 taxes More information on nonresident aliens can be found in Publication 519, U. Efile 2010 taxes S. Efile 2010 taxes Tax Guide for Aliens. Efile 2010 taxes What Expenses Qualify The American opportunity credit is based on adjusted qualified education expenses you pay for yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. Efile 2010 taxes Generally, the credit is allowed for adjusted qualified education expenses paid in 2013 for an academic period beginning in 2013 or beginning in the first three months of 2014. Efile 2010 taxes For example, if you paid $1,500 in December 2013 for qualified tuition for the spring 2014 semester beginning January 2014, you can use that $1,500 in figuring your 2013 credit. Efile 2010 taxes Academic period. Efile 2010 taxes   An academic period includes a semester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. Efile 2010 taxes In the case of an educational institution that uses credit hours or clock hours and does not have academic terms, each payment period can be treated as an academic period. Efile 2010 taxes Paid with borrowed funds. Efile 2010 taxes   You can claim an American opportunity credit for qualified education expenses paid with the proceeds of a loan. Efile 2010 taxes Use the expenses to figure the American opportunity credit for the year in which the expenses are paid, not the year in which the loan is repaid. Efile 2010 taxes Treat loan payments sent directly to the educational institution as paid on the date the institution credits the student's account. Efile 2010 taxes Student withdraws from class(es). Efile 2010 taxes   You can claim an American opportunity credit for qualified education expenses not refunded when a student withdraws. Efile 2010 taxes Qualified Education Expenses For purposes of the American opportunity credit, qualified education expenses are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Efile 2010 taxes Eligible educational institution. Efile 2010 taxes   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. Efile 2010 taxes S. Efile 2010 taxes Department of Education. Efile 2010 taxes It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Efile 2010 taxes The educational institution should be able to tell you if it is an eligible educational institution. Efile 2010 taxes   Certain educational institutions located outside the United States also participate in the U. Efile 2010 taxes S. Efile 2010 taxes Department of Education's Federal Student Aid (FSA) programs. Efile 2010 taxes Related expenses. Efile 2010 taxes   Student-activity fees are included in qualified education expenses only if the fees must be paid to the institution as a condition of enrollment or attendance. Efile 2010 taxes   However, expenses for books, supplies, and equipment needed for a course of study are included in qualified education expenses whether or not the materials are purchased from the educational institution. Efile 2010 taxes Prepaid expenses. Efile 2010 taxes   Qualified education expenses paid in 2013 for an academic period that begins in the first three months of 2014 can be used in figuring an education credit for 2013 only. Efile 2010 taxes See Academic period, earlier. Efile 2010 taxes For example, if you pay $2,000 in December 2013, for qualified tuition for the 2014 winter quarter that begins in January 2014, you can use that $2,000 in figuring an education credit for 2013 only (if you meet all the other requirements). Efile 2010 taxes    You cannot use any amount you paid in 2012 or 2014 to figure the qualified education expenses you use to figure your 2013 education credit(s). Efile 2010 taxes   In the following examples, assume that each student is an eligible student at an eligible educational institution. Efile 2010 taxes Example 1. Efile 2010 taxes Jefferson is a sophomore in University V's degree program in dentistry. Efile 2010 taxes This year, in addition to tuition, he is required to pay a fee to the university for the rental of the dental equipment he will use in this program. Efile 2010 taxes Because the equipment rental is needed for his course of study, Jefferson's equipment rental fee is a qualified expense. Efile 2010 taxes Example 2. Efile 2010 taxes Grace and William, both first-year students at College W, are required to have certain books and other reading materials to use in their mandatory first-year classes. Efile 2010 taxes The college has no policy about how students should obtain these materials, but any student who purchases them from College W's bookstore will receive a bill directly from the college. Efile 2010 taxes William bought his books from a friend; Grace bought hers at College W's bookstore. Efile 2010 taxes Both are qualified education expenses for the American opportunity credit. Efile 2010 taxes Example 3. Efile 2010 taxes When Kelly enrolled at College X for her freshman year, she had to pay a separate student activity fee in addition to her tuition. Efile 2010 taxes This activity fee is required of all students, and is used solely to fund on-campus organizations and activities run by students, such as the student newspaper and the student government. Efile 2010 taxes No portion of the fee covers personal expenses. Efile 2010 taxes Although labeled as a student activity fee, the fee is required for Kelly's enrollment and attendance at College X and is a qualified expense. Efile 2010 taxes No Double Benefit Allowed You cannot do any of the following. Efile 2010 taxes Deduct higher education expenses on your income tax return (as, for example, a business expense) and also claim an American opportunity credit based on those same expenses. Efile 2010 taxes Claim an American opportunity credit in the same year that you are claiming a tuition and fees deduction for the same student. Efile 2010 taxes Claim an American opportunity credit for any student and use any of that student's expenses in figuring your lifetime learning credit. Efile 2010 taxes Figure the tax-free portion of a distribution from a Coverdell education savings account (ESA) or qualified tuition program (QTP) using the same expenses you used to figure the American opportunity credit. Efile 2010 taxes See Coordination With American Opportunity and Lifetime Learning Credits in chapter 7, Coverdell Education Savings Account, and Coordination With American Opportunity and Lifetime Learning Credits in chapter 8, Qualified Tuition Program. Efile 2010 taxes Claim a credit based on qualified education expenses paid with tax-free educational assistance, such as a scholarship, grant, or assistance provided by an employer. Efile 2010 taxes See Adjustments to Qualified Education Expenses, next. Efile 2010 taxes Adjustments to Qualified Education Expenses For each student, reduce the qualified education expenses paid by or on behalf of that student under the following rules. Efile 2010 taxes The result is the amount of adjusted qualified education expenses for each student. Efile 2010 taxes Tax-free educational assistance. Efile 2010 taxes   For tax-free educational assistance received in 2013, reduce the qualified educational expenses for each academic period by the amount of tax-free educational assistance allocable to that academic period. Efile 2010 taxes See Academic period, earlier. Efile 2010 taxes   Some tax-free educational assistance received after 2013 may be treated as a refund of qualified education expenses paid in 2013. Efile 2010 taxes This tax-free educational assistance is any tax-free educational assistance received by you or anyone else after 2013 for qualified education expenses paid on behalf of a student in 2013 (or attributable to enrollment at an eligible educational institution during 2013). Efile 2010 taxes   If this tax-free educational assistance is received after 2013 but before you file your 2013 income tax return, see Refunds received after 2013 but before your income tax return is filed, later. Efile 2010 taxes If this tax-free educational assistance is received after 2013 and after you file your 2013 income tax return, see Refunds received after 2013 and after your income tax return is filed, later. Efile 2010 taxes   Tax-free educational assistance includes: The tax-free parts of scholarships and fellowships (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Pell grants (see Pell Grants and Other Title IV Need-Based Education Grants in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions). Efile 2010 taxes Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Efile 2010 taxes Generally, any scholarship or fellowship is treated as tax free. Efile 2010 taxes However, a scholarship or fellowship is not treated as tax free to the extent the student includes it in gross income (if the student is required to file a tax return for the year the scholarship or fellowship is received) and either of the following is true. Efile 2010 taxes The scholarship or fellowship (or any part of it) must be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Efile 2010 taxes The scholarship or fellowship (or any part of it) may be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Efile 2010 taxes You may be able to increase the combined value of an education credit and certain educational assistance if the student includes some or all of the educational assistance in income in the year it is received. Efile 2010 taxes For examples, see Coordination with Pell grants and other scholarships, later. Efile 2010 taxes Refunds. Efile 2010 taxes   A refund of qualified education expenses may reduce adjusted qualified education expenses for the tax year or require repayment (recapture) of a credit claimed in an earlier year. Efile 2010 taxes Some tax-free educational assistance received after 2013 may be treated as a refund. Efile 2010 taxes See Tax-free educational assistance, earlier. Efile 2010 taxes Refunds received in 2013. Efile 2010 taxes   For each student, figure the adjusted qualified education expenses for 2013 by adding all the qualified education expenses for 2013 and subtracting any refunds of those expenses received from the eligible educational institution during 2013. Efile 2010 taxes Refunds received after 2013 but before your income tax return is filed. Efile 2010 taxes   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is paid before you file an income tax return for 2013, the amount of qualified education expenses for 2013 is reduced by the amount of the refund. Efile 2010 taxes Refunds received after 2013 and after your income tax return is filed. Efile 2010 taxes   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is paid after you file an income tax return for 2013, you may need to repay some or all of the credit. Efile 2010 taxes See Credit recapture, next. Efile 2010 taxes Credit recapture. Efile 2010 taxes    If any tax-free educational assistance for the qualified education expenses paid in 2013, or any refund of your qualified education expenses paid in 2013, is received after you file your 2013 income tax return, you must recapture (repay) any excess credit. Efile 2010 taxes You do this by refiguring the amount of your adjusted qualified education expenses for 2013 by reducing the expenses by the amount of the refund or tax-free educational assistance. Efile 2010 taxes You then refigure your education credit(s) for 2013 and figure the amount by which your 2013 tax liability would have increased if you claimed the refigured credit(s). Efile 2010 taxes Include that amount as an additional tax for the year the refund or tax-free assistance was received. Efile 2010 taxes Example. Efile 2010 taxes   You paid $7,000 tuition and fees in August 2013, and your child began college in September 2013. Efile 2010 taxes You filed your 2013 tax return on February 17, 2014, and claimed an American opportunity credit of $2,500. Efile 2010 taxes After you filed your return, you received a refund of $4,000. Efile 2010 taxes You must refigure your 2013 American opportunity credit using $3,000 of qualified education expenses instead of $7,000. Efile 2010 taxes The refigured credit is $2,250. Efile 2010 taxes The increase to your tax liability is also $250. Efile 2010 taxes Include the difference of $250 as additional tax on your 2014 tax return. Efile 2010 taxes See the instructions for your 2014 income tax return to determine where to include this tax. Efile 2010 taxes If you pay qualified education expenses in 2014 for an academic period that begins in the first 3 months of 2014 and you receive tax-free educational assistance, or a refund, as described above, you may choose to reduce your qualified education expenses for 2014 instead of reducing your expenses for 2013. Efile 2010 taxes Amounts that do not reduce qualified education expenses. Efile 2010 taxes   Do not reduce qualified education expenses by amounts paid with funds the student receives as: Payment for services, such as wages, A loan, A gift, An inheritance, or A withdrawal from the student's personal savings. Efile 2010 taxes   Do not reduce the qualified education expenses by any scholarship or fellowship reported as income on the student's tax return in the following situations. Efile 2010 taxes The use of the money is restricted, by the terms of the scholarship or fellowship, to costs of attendance (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Efile 2010 taxes The use of the money is not restricted. Efile 2010 taxes Example 1. Efile 2010 taxes Joan paid $3,000 for tuition and $5,000 for room and board at University X. Efile 2010 taxes The university did not require her to pay any fees in addition to her tuition in order to enroll in or attend classes. Efile 2010 taxes To help pay these costs, she was awarded a $2,000 scholarship and a $4,000 student loan. Efile 2010 taxes The terms of the scholarship state that it can be used to pay any of Joan's college expenses. Efile 2010 taxes University X applies the $2,000 scholarship against Joan's $8,000 total bill, and Joan pays the $6,000 balance of her bill from University X with a combination of her student loan and her savings. Efile 2010 taxes Joan does not report any portion of the scholarship as income on her tax return. Efile 2010 taxes In figuring the amount of either education credit (American opportunity or lifetime learning), Joan must reduce her qualified education expenses by the amount of the scholarship ($2,000) because she excluded the entire scholarship from her income. Efile 2010 taxes The student loan is not tax-free educational assistance, so she does not need to reduce her qualified expenses by any part of the loan proceeds. Efile 2010 taxes Joan is treated as having paid $1,000 in qualified education expenses ($3,000 tuition – $2,000 scholarship). Efile 2010 taxes Example 2. Efile 2010 taxes The facts are the same as in Example 1, except that Joan reports her entire scholarship as income on her tax return. Efile 2010 taxes Because Joan reported the entire $2,000 scholarship in her income, she does not need to reduce her qualified education expenses. Efile 2010 taxes Joan is treated as having paid $3,000 in qualified education expenses. Efile 2010 taxes Coordination with Pell grants and other scholarships. Efile 2010 taxes   In some cases, you may be able to reduce your tax liability by including scholarships in income. Efile 2010 taxes If you are claiming an education credit for a claimed dependent who received a scholarship, you may be able to reduce your tax liability if the student includes the scholarship in income. Efile 2010 taxes The scholarship must be one that may (by its terms) be applied to expenses (such as room and board) other than qualified education expenses. Efile 2010 taxes Example 1—No scholarship. Efile 2010 taxes Bill Pass, age 28 and unmarried, enrolled full-time in 2013 as a first-year student at a local college to earn a degree in law enforcement. Efile 2010 taxes This was his first year of postsecondary education. Efile 2010 taxes During 2013, he paid $5,600 for his qualified education expenses and $4,400 for his room and board for the fall 2013 semester. Efile 2010 taxes He and the college meet all the requirements for the American opportunity credit. Efile 2010 taxes Bill's AGI and his MAGI, for purposes of figuring his credit, are $30,000. Efile 2010 taxes Bill takes the standard deduction of $5,950 and personal exemption of $3,800, reducing his AGI to taxable income of $20,250. Efile 2010 taxes His income tax liability, before credits, is $2,599 and Bill claims no credits other than the American opportunity credit. Efile 2010 taxes He figures his American opportunity credit based on qualified education expenses of $4,000, which results in a credit of $2,500 and tax after credits of $99. Efile 2010 taxes Example 2—Scholarship excluded from income. Efile 2010 taxes The facts are the same as in Example 1—No scholarship, except that Bill was awarded a $5,600 scholarship. Efile 2010 taxes Under the terms of his scholarship, it may be used to pay any educational expenses, including room and board. Efile 2010 taxes If Bill excludes the scholarship from income, he will be deemed (for purposes of computing his education credit) to have used the scholarship to pay for tuition, required fees, and course materials. Efile 2010 taxes His adjusted qualified education expenses will be zero and he will not have an education credit. Efile 2010 taxes Therefore, Bill's tax after credits would be $2,599. Efile 2010 taxes Example 3—Scholarship partially included in income. Efile 2010 taxes The facts are the same as in Example 2—Scholarship excluded from income. Efile 2010 taxes If, unlike Example 2, Bill includes $4,000 of the scholarship in income, he will be deemed to have used that amount to pay for room and board. Efile 2010 taxes The remaining $1,600 of the $5,600 scholarship will reduce his qualified education expenses and his adjusted qualified education expenses will be $4,000. Efile 2010 taxes Bill's AGI will increase to $34,000, his taxable income will increase to $24,250, and his tax before credits will increase to $3,199. Efile 2010 taxes Based on his adjusted qualified education expenses of $4,000, Bill would be able to claim an American opportunity tax credit of $2,500 and his tax after credits would be $699. Efile 2010 taxes Expenses That Do Not Qualify Qualified education expenses do not include amounts paid for: Insurance, Medical expenses (including student health fees), Room and board, Transportation, or Similar personal, living, or family expenses. Efile 2010 taxes This is true even if the amount must be paid to the institution as a condition of enrollment or attendance. Efile 2010 taxes Sports, games, hobbies, and noncredit courses. Efile 2010 taxes   Qualified education expenses generally do not include expenses that relate to any course of instruction or other education that involves sports, games or hobbies, or any noncredit course. Efile 2010 taxes However, if the course of instruction or other education is part of the student's degree program, these expenses can qualify. Efile 2010 taxes Comprehensive or bundled fees. Efile 2010 taxes   Some eligible educational institutions combine all of their fees for an academic period into one amount. Efile 2010 taxes If you do not receive or do not have access to an allocation showing how much you paid for qualified education expenses and how much you paid for personal expenses, such as those listed earlier, contact the institution. Efile 2010 taxes The institution is required to make this allocation and provide you with the amount you paid (or were billed) for qualified education expenses on Form 1098-T, Tuition Statement. Efile 2010 taxes See Figuring the Credit , later, for more information about Form 1098-T. Efile 2010 taxes Who Is an Eligible Student To claim the American opportunity credit, the student for whom you pay qualified education expenses must be an eligible student. Efile 2010 taxes This is a student who meets all of the following requirements. Efile 2010 taxes The student did not have expenses that were used to figure an American opportunity credit in any 4 earlier tax years. Efile 2010 taxes This includes any tax year(s) in which you claimed the Hope Scholarship Credit for the same student. Efile 2010 taxes The student had not completed the first 4 years of postsecondary education (generally, the freshman, sophomore, junior, and senior years of college) before 2013. Efile 2010 taxes For at least one academic period beginning in 2013, the student was enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential. Efile 2010 taxes The student has not been convicted of any federal or state felony for possessing or distributing a controlled substance as of the end of 2013. Efile 2010 taxes These requirements are also shown in Figure 2-2, Who is an Eligible Student for the American Opportunity Credit , later. Efile 2010 taxes Completion of first 4 years. Efile 2010 taxes   A student has completed the first 4 years of postsecondary education if the institution at which the student is enrolled awards the student 4 years of academic credit at that institution for coursework completed by the student before 2013. Efile 2010 taxes This student generally would not be an eligible student for purposes of the American opportunity credit. Efile 2010 taxes Exception. Efile 2010 taxes   Any academic credit awarded solely on the basis of the student's performance on proficiency examinations is disregarded in determining whether the student has completed 4 years of postsecondary education. Efile 2010 taxes Enrolled at least half-time. Efile 2010 taxes   A student was enrolled at least half-time if the student was taking at least half the normal full-time work load for his or her course of study. Efile 2010 taxes   The standard for what is half of the normal full-time work load is determined by each eligible educational institution. Efile 2010 taxes However, the standard may not be lower than any of those established by the U. Efile 2010 taxes S. Efile 2010 taxes Department of Education under the Higher Education Act of 1965. Efile 2010 taxes Please click here for the text description of the image. Efile 2010 taxes Figure 2-2 Example 1. Efile 2010 taxes Mack graduated from high school in June 2012. Efile 2010 taxes In September, he enrolled in an undergraduate degree program at College U, and attended full-time for both the 2012 fall and 2013 spring semesters. Efile 2010 taxes For the 2013 fall semester, Mack was enrolled less than half-time. Efile 2010 taxes Because Mack was enrolled in an undergraduate degree program on at least a half-time basis for at least one academic period that began during 2012 and at least one academic period that began during 2013, he is an eligible student for tax years 2012 and 2013 (including the 2013 fall semester when he enrolled at College U on less than a half-time basis). Efile 2010 taxes Example 2. Efile 2010 taxes After taking classes at College V on a part-time basis for a few years, Shelly became a full-time student for the 2013 spring semester. Efile 2010 taxes College V classified Shelly as a second-semester senior (fourth year) for the 2013 spring semester and as a first-semester graduate student (fifth year) for the 2013 fall semester. Efile 2010 taxes Because College V did not classify Shelly as having completed the first 4 years of postsecondary education as of the beginning of 2013, Shelly is an eligible student for tax year 2013. Efile 2010 taxes Therefore, the qualified education expenses paid for the 2013 spring semester and the 2013 fall semester are taken into account in calculating the American opportunity credit for 2013. Efile 2010 taxes Example 3. Efile 2010 taxes During the 2012 fall semester, Larry was a high school student who took classes on a half-time basis at College X. Efile 2010 taxes Larry was not enrolled as part of a degree program at College X because College X only admits students to a degree program if they have a high school diploma or equivalent. Efile 2010 taxes Because Larry was not enrolled in a degree program at College X during 2012, Larry was not an eligible student for tax year 2012. Efile 2010 taxes Example 4. Efile 2010 taxes The facts are the same as in Example 3. Efile 2010 taxes During the 2013 spring semester, Larry again attended College X but not as part of a degree program. Efile 2010 taxes Larry graduated from high school in June 2013. Efile 2010 taxes For the 2013 fall semester, Larry enrolled as a full-time student in College X as part of a degree program, and College X awarded Larry credit for his prior coursework at College X. Efile 2010 taxes Because Larry was enrolled in a degree program at College X for the 2013 fall term on at least a half-time basis, Larry is an eligible student for all of tax year 2013. Efile 2010 taxes Therefore, the qualified education expenses paid for classes taken at College X during both the 2013 spring semester (during which Larry was not enrolled in a degree program) and the 2013 fall semester are taken into account in computing any American opportunity credit. Efile 2010 taxes Example 5. Efile 2010 taxes Dee graduated from high school in June 2012. Efile 2010 taxes In January 2013, Dee enrolled in a 1-year postsecondary certificate program on a full-time basis to obtain a certificate as a travel agent. Efile 2010 taxes Dee completed the program in December 2013, and was awarded a certificate. Efile 2010 taxes In January 2014, she enrolled in a 1-year postsecondary certificate program on a full-time basis to obtain a certificate as a computer programmer. Efile 2010 taxes Dee is an eligible student for both tax years 2013 and 2014 because she meets the degree requirement, the work load requirement, and the year of study requirement for those years. Efile 2010 taxes Who Can Claim a Dependent's Expenses If there are qualified education expenses for your dependent during a tax year, either you or your dependent, but not both of you, can claim an American opportunity credit for your dependent's expenses for that year. Efile 2010 taxes For you to claim an American opportunity credit for your dependent's expenses, you must also claim an exemption for your dependent. Efile 2010 taxes You do this by listing your dependent's name and other required information on Form 1040 (or Form 1040A), line 6c. Efile 2010 taxes IF you. Efile 2010 taxes . Efile 2010 taxes . Efile 2010 taxes THEN only. Efile 2010 taxes . Efile 2010 taxes . Efile 2010 taxes claim an exemption on  your tax return for a  dependent who is an  eligible student you can claim the American opportunity credit based on that dependent's expenses. Efile 2010 taxes The dependent cannot claim the credit. Efile 2010 taxes do not claim an exemption on your tax return for a dependent who is an eligible student (even if entitled to the exemption) the dependent can claim the American opportunity credit. Efile 2010 taxes You cannot claim the credit based on this dependent's expenses. Efile 2010 taxes Expenses paid by dependent. Efile 2010 taxes   If you claim an exemption on your tax return for an eligible student who is your dependent, treat any expenses paid (or deemed paid) by your dependent as if you had paid them. Efile 2010 taxes Include these expenses when figuring the amount of your American opportunity credit. Efile 2010 taxes    Qualified education expenses paid directly to an eligible educational institution for your dependent under a court-approved divorce decree are treated as paid by your dependent. Efile 2010 taxes Expenses paid by you. Efile 2010 taxes   If you claim an exemption for a dependent who is an eligible student, only you can include any expenses you paid when figuring the amount of the American opportunity credit. Efile 2010 taxes If neither you nor anyone else claims an exemption for the dependent, only the dependent can include any expenses you paid when figuring the American opportunity credit. Efile 2010 taxes Expenses paid by others. Efile 2010 taxes   Someone other than you, your spouse, or your dependent (such as a relative or former spouse) may make a payment directly to an eligible educational institution to pay for an eligible student's qualified education expenses. Efile 2010 taxes In this case, the student is treated as receiving the payment from the other person and, in turn, paying the institution. Efile 2010 taxes If you claim an exemption on your tax return for the student, you are considered to have paid the expenses. Efile 2010 taxes Example. Efile 2010 taxes In 2013, Ms. Efile 2010 taxes Allen makes a payment directly to an eligible educational institution for her grandson Todd's qualified education expenses. Efile 2010 taxes For purposes of claiming an American opportunity credit, Todd is treated as receiving the money from his grandmother and, in turn, paying his qualified education expenses himself. Efile 2010 taxes Unless an exemption for Todd is claimed on someone else's 2013 tax return, only Todd can use the payment to claim an American opportunity credit. Efile 2010 taxes If anyone, such as Todd's parents, claims an exemption for Todd on his or her 2013 tax return, whoever claims the exemption may be able to use the expenses to claim an American opportunity credit. Efile 2010 taxes If anyone else claims an exemption for Todd, Todd cannot claim an American opportunity credit. Efile 2010 taxes Tuition reduction. Efile 2010 taxes    When an eligible educational institution provides a reduction in tuition to an employee of the institution (or spouse or dependent child of an employee), the amount of the reduction may or may not be taxable. Efile 2010 taxes If it is taxable, the employee is treated as receiving a payment of that amount and, in turn, paying it to the educational institution on behalf of the student. Efile 2010 taxes For more information on tuition reductions, see Qualified Tuition Reduction in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Efile 2010 taxes Figuring the Credit The amount of the American opportunity credit (per eligible student) is the sum of: 100% of the first $2,000 of qualified education expenses you paid for the eligible student, and 25% of the next $2,000 of qualified education expenses you paid for that student. Efile 2010 taxes The maximum amount of American opportunity credit you can claim in 2013 is $2,500 multiplied by the number of eligible students. Efile 2010 taxes You can claim the full $2,500 for each eligible student for whom you paid at least $4,000 of adjusted qualified education expenses. Efile 2010 taxes However, the credit may be reduced based on your MAGI. Efile 2010 taxes See Effect of the Amount of Your Income on the Amount of Your Credit , later. Efile 2010 taxes Example. Efile 2010 taxes Jack and Kay Ford are married and file a joint tax return. Efile 2010 taxes For 2013, they claim an exemption for their dependent daughter on their tax return. Efile 2010 taxes Their MAGI is $70,000. Efile 2010 taxes Their daughter is in her junior (third) year of studies at the local university. Efile 2010 taxes Jack and Kay paid qualified education expenses of $4,300 in 2013. Efile 2010 taxes Jack and Kay, their daughter, and the local university meet all of the requirements for the American opportunity credit. Efile 2010 taxes Jack and Kay can claim a $2,500 American opportunity credit in 2013. Efile 2010 taxes This is 100% of the first $2,000 of qualified education expenses, plus 25% of the next $2,000. Efile 2010 taxes Form 1098-T. Efile 2010 taxes   To help you figure your American opportunity credit, the student should receive Form 1098-T, Tuition Statement. Efile 2010 taxes Generally, an eligible educational institution (such as a college or university) must send Form 1098-T (or acceptable substitute) to each enrolled student by January 31, 2014. Efile 2010 taxes An institution may choose to report either payments received (box 1), or amounts billed (box 2), for qualified education expenses. Efile 2010 taxes However, the amounts in boxes 1 and 2 of Form 1098-T might be different than what you paid. Efile 2010 taxes When figuring the credit, use only the amounts you paid or are deemed to have paid in 2013 for qualified education expenses. Efile 2010 taxes   In addition, Form 1098-T should give other information for that institution, such as adjustments made for prior years, the amount of scholarships or grants, reimbursements or refunds, and whether the student was enrolled at least half-time or was a graduate student. Efile 2010 taxes    The eligible educational institution may ask for a completed Form W-9S, Request for Student's or Borrower's Taxpayer Identification Number and Certification, or similar statement to obtain the student's name, address, and taxpayer identification number. Efile 2010 taxes Effect of the Amount of Your Income on the Amount of Your Credit The amount of your American opportunity credit is phased out (gradually reduced) if your MAGI is between $80,000 and $90,000 ($160,000 and $180,000 if you file a joint return). Efile 2010 taxes You cannot claim an American opportunity credit if your MAGI is $90,000 or more ($180,000 or more if you file a joint return). Efile 2010 taxes Modified adjusted gross income (MAGI). Efile 2010 taxes   For most taxpayers, MAGI is adjusted gross income (AGI) as figured on their federal income tax return. Efile 2010 taxes MAGI when using Form 1040A. Efile 2010 taxes   If you file Form 1040A, your MAGI is the AGI on line 22 of that form. Efile 2010 taxes MAGI when using Form 1040. Efile 2010 taxes   If you file Form 1040, your MAGI is the AGI on line 38 of that form, modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. Efile 2010 taxes You can use Worksheet 2-1, next, to figure your MAGI. Efile 2010 taxes    Worksheet 2-1. Efile 2010 taxes MAGI for the American Opportunity Credit 1. Efile 2010 taxes Enter your adjusted gross income  (Form 1040, line 38)   1. Efile 2010 taxes   2. Efile 2010 taxes Enter your foreign earned income exclusion and/or housing exclusion (Form 2555, line 45, or Form 2555-EZ, line 18)   2. Efile 2010 taxes       3. Efile 2010 taxes Enter your foreign housing deduction (Form 2555, line 50)   3. Efile 2010 taxes       4. Efile 2010 taxes Enter the amount of income from Puerto Rico you are excluding   4. Efile 2010 taxes       5. Efile 2010 taxes Enter the amount of income from American Samoa you are excluding (Form 4563, line 15)   5. Efile 2010 taxes       6. Efile 2010 taxes Add the amounts on lines 2, 3, 4, and 5   6. Efile 2010 taxes   7. Efile 2010 taxes Add the amounts on lines 1 and 6. Efile 2010 taxes  This is your modified adjusted  gross income. Efile 2010 taxes Enter here and  on Form 8863, line 3   7. Efile 2010 taxes   Phaseout. Efile 2010 taxes   If your MAGI is within the range of incomes where the credit must be reduced, you will figure your reduced credit using lines 2-7, of Form 8863, Part I. Efile 2010 taxes The same method is shown in the following example. Efile 2010 taxes Example. Efile 2010 taxes You are filing a joint return and your MAGI is $165,000. Efile 2010 taxes In 2013, you paid $5,000 of qualified education expenses. Efile 2010 taxes You figure a tentative American opportunity credit of $2,500 (100% of the first $2,000 of qualified education expenses, plus 25% of the next $2,000 of qualified education expenses). Efile 2010 taxes Because your MAGI is within the range of incomes where the credit must be reduced, you must multiply your tentative credit ($2,500) by a fraction. Efile 2010 taxes The numerator of the fraction is $180,000 (the upper limit for those filing a joint return) minus your MAGI. Efile 2010 taxes The denominator is $20,000, the range of incomes for the phaseout ($160,000 to $180,000). Efile 2010 taxes The result is the amount of your phased out (reduced) American opportunity credit ($1,875). Efile 2010 taxes      $2,500 × $180,000 − $165,000  $20,000 = $1,875   Refundable Part of Credit Forty percent of the American opportunity credit is refundable for most taxpayers. Efile 2010 taxes However, if you were under age 24 at the end of 2013 and the conditions listed below apply to you, you cannot claim any part of the American opportunity credit as a refundable credit on your tax return. Efile 2010 taxes Instead, your allowed credit (figured on Form 8863, Part II) will be used to reduce your tax as a nonrefundable credit only. Efile 2010 taxes You do not qualify for a refund if items 1 (a, b, or c), 2, and 3 below apply to you. Efile 2010 taxes You were: Under age 18 at the end of 2013, or Age 18 at the end of 2013 and your earned income (defined below) was less than one-half of your support (defined below), or Over age 18 and under age 24 at the end of 2013 and a full-time student (defined below) and your earned income (defined below) was less than one-half of your support (defined below). Efile 2010 taxes At least one of your parents was alive at the end of 2013. Efile 2010 taxes You are filing a return as single, head of household, qualifying widow(er), or married filing separately for 2013. Efile 2010 taxes Earned income. Efile 2010 taxes   Earned income includes wages, salaries, professional fees, and other payments received for personal services actually performed. Efile 2010 taxes Earned income includes the part of any scholarship or fellowship that represents payment for teaching, research, or other services performed by the student that are required as a condition for receiving the scholarship or fellowship. Efile 2010 taxes Earned income does not include that part of the compensation for personal services rendered to a corporation which represents a distribution of earnings or profits rather than a reasonable allowance as compensation for the personal services actually rendered. Efile 2010 taxes   If you are a sole proprietor or a partner in a trade or business in which both personal services and capital are material income-producing factors, earned income also includes a reasonable allowance for compensation for personal services, but not more than 30% of your share of the net profits from that trade or business (after subtracting the deduction for one-half of self-employment tax). Efile 2010 taxes However, if capital is not an income-producing factor and your personal services produced the business income, the 30% limit does not apply. Efile 2010 taxes Support. Efile 2010 taxes   Your support includes food, shelter, clothing, medical and dental care, education, and the like. Efile 2010 taxes Generally, the amount of the item of support will be the amount of expenses incurred by the one furnishing such item. Efile 2010 taxes If the item of support is in the form of property or lodging, measure the amount of such item of support by its fair market value. Efile 2010 taxes However, a scholarship received by you is not considered support if you are a full-time student. Efile 2010 taxes See Publication 501 for details. Efile 2010 taxes Full-time student. Efile 2010 taxes   You are a full-time student for 2013 if during any part of any 5 calendar months during the year you were enrolled as a full-time student at an eligible educational institution (defined earlier), or took a full-time, on-farm training course given by such an institution or by a state, county, or local government agency. Efile 2010 taxes Claiming the Credit You claim the American opportunity credit by completing Form 8863 and submitting it with your Form 1040 or 1040A. Efile 2010 taxes Enter the nonrefundable part of the credit on Form 1040, line 49, or on Form 1040A, line 31. Efile 2010 taxes Enter the refundable part of the credit on Form 1040, line 66, or on Form 1040A, line 40. Efile 2010 taxes A filled-in Form 8863 is shown at the end of this publication. Efile 2010 taxes Note. Efile 2010 taxes In Appendix A. Efile 2010 taxes at the end of this publication, there is an example illustrating the use of Form 8863 when both the American opportunity credit and the lifetime learning credit are claimed on the same tax return. Efile 2010 taxes Prev  Up  Next   Home   More Online Publications
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The Efile 2010 Taxes

Efile 2010 taxes 33. Efile 2010 taxes   Crédito para Ancianos o Personas Incapacitadas Table of Contents Introduction Useful Items - You may want to see: ¿Reúne los Requisitos del Crédito?Persona que Reúne los Requisitos Límites sobre los Ingresos Cómo Reclamar el CréditoEl Crédito Calculado por el IRS El Crédito Calculado por Usted Mismo Introduction Si reúne los requisitos, tal vez pueda reducir los impuestos que adeuda tomando el crédito para ancianos o personas incapacitadas, el cual se calcula en el Anexo R (Formulario 1040A o Formulario 1040). Efile 2010 taxes Este capítulo trata lo siguiente: Quién reúne los requisitos para reclamar el crédito para ancianos o personas incapacitadas. Efile 2010 taxes Cómo reclamar el crédito. Efile 2010 taxes Tal vez pueda tomar el crédito para ancianos o personas incapacitadas si: Tiene 65 años de edad o más al final del año 2013 o Se jubiló por incapacidad total y permanente y recibe ingresos por incapacidad sujetos a impuestos. Efile 2010 taxes Useful Items - You may want to see: Publicación 524 Credit for the Elderly or the Disabled (Crédito para ancianos o personas incapacitadas), en inglés 554 Tax Guide for Seniors (Guía tributaria para personas de la tercera edad), en inglés Formulario (e Instrucciones) Anexo R (Formulario 1040A o 1040) Credit for the Elderly or the Disabled (Crédito para ancianos o personas incapacitadas), en inglés ¿Reúne los Requisitos del Crédito? Puede reclamar el crédito para ancianos o personas incapacitadas si le corresponden ambas situaciones: Usted es una persona que reúne los requisitos. Efile 2010 taxes Sus ingresos no sobrepasan determinados límites. Efile 2010 taxes Puede utilizar la Figura 33-A y la Tabla 33-1 como guía para ver si tiene derecho al crédito. Efile 2010 taxes Primero, utilice la Figura 33-A para saber si reúne los requisitos. Efile 2010 taxes En tal caso, pase a la Tabla 33-1 para asegurarse que sus ingresos no superen los límites correspondientes al crédito. Efile 2010 taxes Puede reclamar el crédito sólo si presenta el Formulario 1040 o el Formulario 1040A. Efile 2010 taxes No puede reclamar el crédito si presenta el Formulario 1040EZ. Efile 2010 taxes Persona que Reúne los Requisitos Usted reúne los requisitos de este crédito si es ciudadano estadounidense o extranjero residente y cualquiera de las siguientes situaciones le corresponden: Tenía 65 años de edad o más al final del año 2013. Efile 2010 taxes Tenía menos de 65 años de edad al final del año 2013 y se cumplen las tres condiciones siguientes: Se jubiló por incapacidad total y permanente (se explica más adelante). Efile 2010 taxes Recibió ingresos sujetos a impuestos por incapacidad durante 2013. Efile 2010 taxes En el día 1 de enero de 2013, no había alcanzado la edad de jubilación obligatoria (se define más adelante bajo Ingresos por incapacidad ). Efile 2010 taxes 65 años de edad. Efile 2010 taxes   Se considera que tiene 65 años el día antes de cumplir los 65 años. Efile 2010 taxes Por lo tanto, si nació el 1 de enero de 1949, se considera que tiene 65 años de edad al final de 2013. Efile 2010 taxes Ciudadano o Extranjero Residente de los Estados Unidos Para reclamar el crédito, tiene que ser ciudadano o extranjero residente de los Estados Unidos (o ser tratado como extranjero residente). Efile 2010 taxes Normalmente, no puede reclamar el crédito si fue extranjero no residente en algún momento durante el año tributario. Efile 2010 taxes Excepciones. Efile 2010 taxes   Tal vez pueda tomar el crédito si es extranjero no residente casado con un ciudadano o extranjero residente de los EE. Efile 2010 taxes UU. Efile 2010 taxes al final del año tributario, y usted y su cónyuge optan por tratarlo a usted como extranjero residente de los Estados Unidos. Efile 2010 taxes En tal caso, se gravan impuestos sobre los ingresos que usted y su cónyuge reciban de cualquier parte del mundo. Efile 2010 taxes Si era extranjero no residente al comenzar el año y residente extranjero al final del año, y estaba casado con un ciudadano o extranjero residente de los EE. Efile 2010 taxes UU. Efile 2010 taxes al final del año, tal vez pueda optar por ser considerado extranjero residente de los EE. Efile 2010 taxes UU. Efile 2010 taxes durante todo el año. Efile 2010 taxes En ese caso, quizás se le permita reclamar el crédito. Efile 2010 taxes Para más información sobre estas opciones, vea el capítulo 1 de la Publicación 519, U. Efile 2010 taxes S. Efile 2010 taxes Tax Guide for Aliens (Guía tributaria sobre los impuestos estadounidenses para extranjeros), en inglés. Efile 2010 taxes Personas Casadas Normalmente, si está casado al final del año tributario, usted y su cónyuge tienen que presentar una declaración conjunta para reclamar el crédito. Efile 2010 taxes No obstante, si usted y su cónyuge no vivieron en la misma vivienda en ningún momento durante el año tributario, pueden presentar una declaración conjunta o declaraciones separadas y aún reclamar el crédito. Efile 2010 taxes Cabeza de familia. Efile 2010 taxes   Puede presentar la declaración como cabeza de familia y satisfacer las condiciones del crédito, aun si su cónyuge vivió con usted durante los primeros 6 meses del año, si cumple ciertos requisitos. Efile 2010 taxes Vea Cabeza de Familia en el capítulo 2, para averiguar qué requisitos tiene que cumplir. Efile 2010 taxes Personas Menores de 65 Años de Edad Si tiene menos de 65 años de edad al final del año 2013, puede reunir los requisitos del crédito sólo si está jubilado por incapacidad total y permanente (se explica a continuación) y ha recibido ingresos por incapacidad sujetos a impuestos (se explica más adelante, bajo el tema Ingresos por incapacidad ). Efile 2010 taxes Se le considera jubilado por incapacidad total y permanente si: Estaba total y permanentemente incapacitado cuando se jubiló y Se jubiló por incapacidad antes del cierre del año tributario. Efile 2010 taxes Aunque no se jubile oficialmente, puede que se le considere jubilado por incapacidad cuando haya dejado de trabajar debido a su incapacidad. Efile 2010 taxes Si se jubiló por incapacidad antes de 1977 y no estaba total y permanentemente incapacitado en ese momento, puede cumplir los requisitos del crédito si estaba total y permanentemente incapacitado el 1 de enero de 1976 o el 1 de enero de 1977. Efile 2010 taxes Total y permanentemente incapacitado. Efile 2010 taxes    Está total y permanentemente incapacitado si no puede dedicarse a ninguna actividad sustancial remunerada a causa de una condición física o mental. Efile 2010 taxes Un médico calificado tiene que confirmar por escrito que dicha condición ha durado o puede durar 12 meses o más, o que dicha condición puede culminar en la muerte. Efile 2010 taxes Vea Declaración del médico , más adelante. Efile 2010 taxes Actividad sustancial remunerada. Efile 2010 taxes   Se define “actividad sustancial remunerada” como el desempeño de deberes importantes a lo largo de un período de tiempo razonable, mientras uno trabaje para recibir remuneración u obtener ganancias; o un trabajo generalmente realizado a cambio de remuneración o ganancias. Efile 2010 taxes El mantener un empleo a tiempo completo (o un empleo a tiempo parcial a conveniencia de su empleador) en un ambiente laboral competitivo donde se paga por lo menos el salario mínimo se considera una prueba contundente de que puede dedicarse a una actividad sustancial remunerada. Efile 2010 taxes   Los trabajos realizados para cuidarse a sí mismo o cuidar su vivienda no se consideran actividades sustanciales remuneradas. Efile 2010 taxes Tampoco se considera actividad sustancial remunerada: el trabajo no remunerado desempeñado en relación con los pasatiempos, la capacitación o terapia institucional, asistencia a una escuela, los clubes, programas sociales y otras actividades semejantes. Efile 2010 taxes No obstante, realizar este tipo de trabajo puede demostrar que usted es capaz de dedicarse a una actividad sustancial remunerada. Efile 2010 taxes    El hecho de que no haya trabajado por algún tiempo no se considera una prueba concluyente de que no pueda dedicarse a una actividad sustancial remunerada. Efile 2010 taxes Empleo en establecimientos protegidos. Efile 2010 taxes   Ciertos trabajos ofrecidos a personas con incapacidad física o mental en establecimientos que reúnen ciertos requisitos se consideran empleo protegido. Efile 2010 taxes Dichos sitios se ubican en establecimientos protegidos, tales como talleres, hospitales e instituciones parecidas, programas laborales o educativos en el hogar y asilos patrocinados por el Departamento de Asuntos de Veteranos (VA, por sus siglas en inglés). Efile 2010 taxes   En comparación con el empleo comercial, la remuneración del empleo en establecimientos protegidos es más baja. Efile 2010 taxes Por lo tanto, una persona no suele buscar empleo en establecimientos protegidos si puede encontrar otro empleo. Efile 2010 taxes El hecho de que una persona haya aceptado un empleo en establecimientos protegidos no comprueba que la persona pueda dedicarse a una actividad sustancial remunerada. Efile 2010 taxes Declaración del médico. Efile 2010 taxes   Si tiene menos de 65 años de edad, su médico tiene que certificar por escrito que usted estaba total y permanentemente incapacitado en la fecha en que se jubiló. Efile 2010 taxes Puede utilizar la declaración en las Instrucciones del Anexo R (Fomulario 1040A o 1040). Efile 2010 taxes    Please click here for the text description of the image. Efile 2010 taxes Figura 33−A. Efile 2010 taxes ¿Es Usted una Persona que Reúne los Requisitos? Tabla 33-1. Efile 2010 taxes Límites sobre los Ingresos SI su estado civil para efectos de la declaración es . Efile 2010 taxes . Efile 2010 taxes . Efile 2010 taxes . Efile 2010 taxes ENTONCES aun si reúne los requisitos (vea la Figura 33-A ), NO PUEDE reclamar el crédito si . Efile 2010 taxes . Efile 2010 taxes . Efile 2010 taxes . Efile 2010 taxes Tiene ingresos brutos ajustados (AGI, por sus siglas en inglés)* iguales o superiores a . Efile 2010 taxes . Efile 2010 taxes . Efile 2010 taxes . Efile 2010 taxes O el total de su Seguro Social no sujeto a impuestos además de otras pensiones, anualidades o ingreso por incapacidad no sujetos a impuestos es igual o superior a . Efile 2010 taxes . Efile 2010 taxes . Efile 2010 taxes . Efile 2010 taxes soltero, cabeza de familia o viudo que reúne los requisitos con hijo dependiente $17,500 $5,000 casado que presenta una declaración conjunta y sólo uno de los cónyuges reúne los requisitos de la Figura 33-A $20,000 $5,000 casado que presenta una declaración conjunta y ambos cónyuges reúnen los requisitos de la Figura 33-A $25,000 $7,500 casado que presenta una declaración por separado y usted y su cónyuge no vivieron en la misma vivienda en ningún momento del año 2013 $12,500 $3,750 *El AGI es la cantidad indicada en la línea 22 del Formulario 1040A o la línea 38 del Formulario 1040. Efile 2010 taxes   No tiene que presentar esta declaración escrita junto con el Formulario 1040 o Formulario 1040A, pero tiene que guardarla con su documentación. Efile 2010 taxes Veteranos. Efile 2010 taxes   Si el Departamento de Asuntos de Veteranos (VA, por sus siglas en inglés) certifica que está total y permanentemente incapacitado, puede utilizar el Formulario 21-0172 del VA, Certification of Permanent and Total Disability (Certificación de incapacidad total y permanente), en inglés, en lugar de la declaración escrita de un médico que usted está obligado a conservar. Efile 2010 taxes El Formulario 21-0172 del VA tiene que ser firmado por una persona autorizada por el VA. Efile 2010 taxes Puede obtener este formulario de la oficina regional del VA de su área. Efile 2010 taxes Declaración escrita de un médico obtenida en un año anterior. Efile 2010 taxes   Si obtuvo una declaración escrita de su médico en un año anterior y, por su condición continua de incapacidad, no pudo dedicarse a ninguna actividad sustancial remunerada durante 2013, quizás no necesite obtener otra declaración escrita de su médico para 2013. Efile 2010 taxes Para leer una explicación detallada de las condiciones que tiene que cumplir, consulte la Parte II de las Instrucciones del Anexo R (Formulario 1040A o 1040). Efile 2010 taxes Si satisface las condiciones obligatorias, marque el recuadro 2 de la Parte II del Anexo R (Formulario 1040A o 1040). Efile 2010 taxes   Si marcó el recuadro 4, 5 ó 6 de la Parte I del Anexo R (Formulario 1040A o 1040), anote en el espacio por encima del recuadro de la línea 2 de la Parte II el (los) primer(os) nombre(s) del (de los) cónyuge(s) para el (los) cual(es) está marcado dicho recuadro. Efile 2010 taxes Ingresos por incapacidad. Efile 2010 taxes   Si tiene menos de 65 años de edad, tiene que tener también ingresos tributables de compensación por incapacidad para reunir los requisitos del crédito. Efile 2010 taxes Los ingresos de compensación por incapacidad tienen que cumplir los siguientes requisitos: Se tienen que pagar conforme al seguro de accidente o médico, o el plan de pensiones de su empleador. Efile 2010 taxes Se tienen que incluir en los ingresos como salario (o pagos en lugar de salario) durante el tiempo por el cual se ausentó del trabajo a raíz de una incapacidad total y permanente. Efile 2010 taxes Pagos que no se consideran ingresos por incapacidad. Efile 2010 taxes   Todo pago que reciba de un plan que no ofrece una opción para la jubilación por incapacidad no se considera ingreso por incapacidad. Efile 2010 taxes Todo pago global que reciba por vacaciones acumuladas al jubilarse por incapacidad se considera pago de salario en vez de ingreso por incapacidad. Efile 2010 taxes   Para propósitos del crédito para ancianos o personas incapacitadas, los ingresos por incapacidad no incluyen cantidades que usted reciba después de cumplir la edad obligatoria de jubilación. Efile 2010 taxes La edad obligatoria de jubilación es la edad establecida por su empleador en la que usted habría estado obligado a jubilarse si no se hubiera quedado incapacitado. Efile 2010 taxes Límites sobre los Ingresos Para determinar si puede reclamar el crédito, tiene que tener en cuenta dos límites sobre los ingresos. Efile 2010 taxes El primer límite es la cantidad de ingresos brutos ajustados (AGI, por sus siglas en inglés). Efile 2010 taxes El segundo límite es la cantidad de Seguro Social no sujeta a impuestos y otras pensiones, anualidades o compensación por incapacidad no sujetas a impuestos que haya recibido. Efile 2010 taxes Se indican los límites en la Tabla 33-1. Efile 2010 taxes Si tiene ingresos brutos ajustados y pensiones, anualidades o compensación por incapacidad no sujetos a impuestos inferiores a los límites de ingresos, quizás pueda reclamar el crédito. Efile 2010 taxes Vea Cómo Reclamar el Crédito , más adelante. Efile 2010 taxes Si tiene ingresos brutos ajustados o pensiones, anualidades o compensación por incapacidad no sujetos a impuestos iguales o superiores a los límites de ingresos, no puede reclamar el crédito. Efile 2010 taxes Cómo Reclamar el Crédito Puede calcular el crédito usted mismo o el Servicio de Impuestos Internos (IRS, por sus siglas en inglés) se lo calculará. Efile 2010 taxes El Crédito Calculado por el IRS Si opta por que el IRS le calcule el crédito, lea el tema presentado a continuación relacionado con el formulario que usted va a presentar (el Formulario 1040 o el Formulario 1040A). Efile 2010 taxes Si desea que el IRS le calcule su impuesto, vea el capítulo 30 . Efile 2010 taxes Formulario 1040. Efile 2010 taxes   Si desea que el IRS le calcule el crédito, vea Datos a Incluir en el Formulario 1040 bajo Impuestos Calculados por el IRS en el capítulo 30. Efile 2010 taxes Formulario 1040A. Efile 2010 taxes   Si desea que el IRS le calcule el crédito, vea Datos a Incluir en el Formulario 1040A bajo Impuestos Calculados por el IRS en el capítulo 30. Efile 2010 taxes El Crédito Calculado por Usted Mismo Si opta por calcular el crédito usted mismo, llene la primera página del Anexo R (Formulario 1040A o 1040). Efile 2010 taxes Luego, llene la Parte III del Anexo R (Formulario 1040A o 1040). Efile 2010 taxes Si presenta el Formulario 1040A, anote en la línea 30 de este formulario la cantidad proveniente de la línea 22 del Anexo R (Formulario 1040A o 1040). Efile 2010 taxes Si presenta el Formulario 1040, anote en la línea 53 de este formulario la cantidad proveniente de la línea 22 del Anexo R (Formulario 1040A o 1040), marque el recuadro c y escriba “Sch R” en la línea al lado de dicho recuadro. Efile 2010 taxes Para leer una explicación detallada sobre cómo llenar la Parte III del Anexo R, vea Figuring the Credit Yourself (Cómo calcular el crédito usted mismo), en la Publicación 524, en inglés. Efile 2010 taxes Límite del crédito. Efile 2010 taxes   La cantidad del crédito que puede reclamar, por lo general, suele limitarse a la cantidad de impuestos que tiene que pagar. Efile 2010 taxes Utilice la Credit Limit Worksheet (Hoja de trabajo para calcular el límite del crédito), en las Instrucciones del Anexo R (Formulario 1040A o Formulario 1040) para determinar si su crédito es limitado. Efile 2010 taxes Prev  Up  Next   Home   More Online Publications