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Turbo tax ez form 3. Turbo tax ez form   Lifetime Learning 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 Student Who Can Claim a Dependent's Expenses Figuring the CreditEffect of the Amount of Your Income on the Amount of Your 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. Turbo tax ez form They are the American opportunity credit and the lifetime learning credit. Turbo tax ez form This chapter discusses the lifetime learning credit. Turbo tax ez form The American opportunity credit is discussed in chapter 2, The American Opportunity Credit . Turbo tax ez form This chapter explains: Who can claim the lifetime learning 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. Turbo tax ez form What is the tax benefit of the lifetime learning credit. Turbo tax ez form   For the tax year, you may be able to claim a lifetime learning credit of up to $2,000 for qualified education expenses paid for all eligible students. Turbo tax ez form There is no limit on the number of years the lifetime learning credit can be claimed for each student. Turbo tax ez form   A tax credit reduces the amount of income tax you may have to pay. Turbo tax ez form Unlike a deduction, which reduces the amount of income subject to tax, a credit directly reduces the tax itself. Turbo tax ez form The lifetime learning credit is a nonrefundable credit. Turbo tax ez form This means that it can reduce your tax to zero, but if the credit is more than your tax the excess will not be refunded to you. Turbo tax ez form   Your allowable lifetime learning credit may be limited by the amount of your income and the amount of your tax. Turbo tax ez form Can you claim more than one education credit this year. Turbo tax ez form   For each student, you can elect for any year only one of the credits. Turbo tax ez form For example, if you elect to take the lifetime learning credit for a child on your 2013 tax return, you cannot, for that same child, also claim the American opportunity credit for 2013. Turbo tax ez form   If you are eligible to claim the lifetime learning credit and you are also eligible to claim the American opportunity credit for the same student in the same year, you can choose to claim either credit, but not both. Turbo tax ez form   If you pay qualified education expenses for more than one student in the same year, you can choose to take certain credits on a per-student, per-year basis. Turbo tax ez form 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. Turbo tax ez form Differences between the American opportunity and lifetime learning credits. Turbo tax ez form   There are several differences between these two credits. Turbo tax ez form For example, you can claim the American opportunity credit for the same student for no more than 4 tax years, but any year in which the Hope Scholarship Credit was claimed counts toward the 4 years. Turbo tax ez form 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. Turbo tax ez form 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. Turbo tax ez form Overview of the lifetime learning credit. Turbo tax ez form   See Table 3-1, Overview of the Lifetime Learning Credit for the basics of the lifetime learning credit. Turbo tax ez form The details are discussed in this chapter. Turbo tax ez form Can You Claim the Credit The following rules will help you determine if you are eligible to claim the lifetime learning credit on your tax return. Turbo tax ez form Who Can Claim the Credit Generally, you can claim the lifetime learning credit if all three of the following requirements are met. Turbo tax ez form You pay qualified education expenses of higher education. Turbo tax ez form You pay the education expenses for an eligible student. Turbo tax ez form The eligible student is either yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. Turbo tax ez form Table 3-1. Turbo tax ez form Overview of the Lifetime Learning Credit Maximum credit Up to $2,000 credit per return Limit on modified adjusted gross income (MAGI) $127,000 if married filling jointly;  $63,000 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 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 2013 for academic periods beginning in 2013 or beginning in the first 3 months of 2014 Note. Turbo tax ez form 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. Turbo tax ez form “Qualified education expenses” are defined later under Qualified Education Expenses . Turbo tax ez form “Eligible students” are defined later under Who Is an Eligible Student . Turbo tax ez form A dependent for whom you claim an exemption is defined later under Who Can Claim a Dependent's Expenses . Turbo tax ez form You may find Figure 3-1, Can You Claim the Lifetime Learning Credit for 2013 , later, helpful in determining if you can claim a lifetime learning credit on your tax return. Turbo tax ez form Who Cannot Claim the Credit You cannot claim the lifetime learning credit for 2013 if any of the following apply. Turbo tax ez form Your filing status is married filing separately. Turbo tax ez form You are listed as a dependent on another person's tax return (such as your parents'). Turbo tax ez form See Who Can Claim a Dependent's Expenses , later. Turbo tax ez form Your modified adjusted gross income (MAGI) is $63,000 or more ($127,000 or more in the case of a joint return). Turbo tax ez form MAGI is explained later under Effect of the Amount of Your Income on the Amount of Your Credit . Turbo tax ez form 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. Turbo tax ez form More information on nonresident aliens can be found in Publication 519. Turbo tax ez form You claim the American Opportunity Credit (see chapter 2) or a Tuition and Fees Deduction (see chapter 6) for the same student in 2013. Turbo tax ez form What Expenses Qualify The lifetime learning credit is based on qualified education expenses you pay for yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. Turbo tax ez form Generally, the credit is allowed for qualified education expenses paid in 2013 for an academic period beginning in 2013 or in the first 3 months of 2014. Turbo tax ez form For example, if you paid $1,500 in December 2013 for qualified tuition for the spring 2014 semester beginning in January 2014, you may be able to use that $1,500 in figuring your 2013 credit. Turbo tax ez form Academic period. Turbo tax ez form   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. Turbo tax ez form 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. Turbo tax ez form Paid with borrowed funds. Turbo tax ez form   You can claim a lifetime learning credit for qualified education expenses paid with the proceeds of a loan. Turbo tax ez form You use the expenses to figure the lifetime learning credit for the year in which the expenses are paid, not the year in which the loan is repaid. Turbo tax ez form Treat loan disbursements sent directly to the educational institution as paid on the date the institution credits the student's account. Turbo tax ez form Student withdraws from class(es). Turbo tax ez form   You can claim a lifetime learning credit for qualified education expenses not refunded when a student withdraws. Turbo tax ez form Qualified Education Expenses For purposes of the lifetime learning credit, qualified education expenses are tuition and certain related expenses required for enrollment in a course at an eligible educational institution. Turbo tax ez form The course must be either part of a postsecondary degree program or taken by the student to acquire or improve job skills. Turbo tax ez form Eligible educational institution. Turbo tax ez form   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. Turbo tax ez form S. Turbo tax ez form Department of Education. Turbo tax ez form It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Turbo tax ez form The educational institution should be able to tell you if it is an eligible educational institution. Turbo tax ez form   Certain educational institutions located outside the United States also participate in the U. Turbo tax ez form S. Turbo tax ez form Department of Education's Federal Student Aid (FSA) programs. Turbo tax ez form Related expenses. Turbo tax ez form   Student-activity fees and expenses for course-related books, supplies, and equipment are included in qualified education expenses only if the fees and expenses must be paid to the institution for enrollment or attendance. Turbo tax ez form Prepaid expenses. Turbo tax ez form   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. Turbo tax ez form See Academic period , earlier. Turbo tax ez form For example, 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). Turbo tax ez form 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). Turbo tax ez form In the following examples, assume that each student is an eligible student at an eligible educational institution. Turbo tax ez form Example 1. Turbo tax ez form   Jackson is a sophomore in University V's degree program in dentistry. Turbo tax ez form 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. Turbo tax ez form Because the equipment rental fee must be paid to University V for enrollment and attendance, Jackson's equipment rental fee is a qualified expense. Turbo tax ez form Example 2. Turbo tax ez form   Donna and Charles, 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. Turbo tax ez form 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. Turbo tax ez form Charles bought his books from a friend, so what he paid for them is not a qualified education expense. Turbo tax ez form Donna bought hers at College W's bookstore. Turbo tax ez form Although Donna paid College W directly for her first-year books and materials, her payment is not a qualified expense because the books and materials are not required to be purchased from College W for enrollment or attendance at the institution. Turbo tax ez form Example 3. Turbo tax ez form   When Marci enrolled at College X for her freshman year, she had to pay a separate student activity fee in addition to her tuition. Turbo tax ez form 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 student government. Turbo tax ez form No portion of the fee covers personal expenses. Turbo tax ez form Although labeled as a student activity fee, the fee is required for Marci's enrollment and attendance at College X. Turbo tax ez form Therefore, it is a qualified expense. Turbo tax ez form No Double Benefit Allowed You cannot do any of the following: Deduct higher education expenses on your income tax return (as, for example, a business expense) and also claim a lifetime learning credit based on those same expenses. Turbo tax ez form Claim a lifetime learning credit in the same year that you are claiming a tuition and fees deduction for the same student. Turbo tax ez form Claim a lifetime learning credit and an American opportunity credit based on the same qualified education expenses. Turbo tax ez form Claim a lifetime learning credit based on the same expenses used to figure the tax-free portion of a distribution from a Coverdell education savings account (ESA) or qualified tuition program (QTP). Turbo tax ez form 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. Turbo tax ez form 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. Turbo tax ez form See Adjustments to Qualified Education Expenses, next. Turbo tax ez form This image is too large to be displayed in the current screen. Turbo tax ez form Please click the link to view the image. Turbo tax ez form Figure 3-1 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. Turbo tax ez form The result is the amount of adjusted qualified education expenses for each student. Turbo tax ez form Tax-free educational assistance. Turbo tax ez form   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. Turbo tax ez form See Academic period , earlier. Turbo tax ez form   Some tax-free educational assistance received after 2013 may be treated as a refund of qualified education expenses paid in 2013. Turbo tax ez form 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). Turbo tax ez form   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. Turbo tax ez form 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. Turbo tax ez form   Tax-free educational assistance includes: The tax-free part 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), 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. Turbo tax ez form Generally, any scholarship or fellowship is treated as tax free. Turbo tax ez form 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. Turbo tax ez form 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. Turbo tax ez form 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. Turbo tax ez form 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. Turbo tax ez form For examples, see Coordination with Pell grants and other scholarships, later. Turbo tax ez form Refunds. Turbo tax ez form   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. Turbo tax ez form Some tax-free educational assistance received after 2013 may be treated as a refund. Turbo tax ez form See Tax-free educational assistance , earlier. Turbo tax ez form Refunds received in 2013. Turbo tax ez form   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. Turbo tax ez form Refunds received after 2013 but before your income tax return is filed. Turbo tax ez form   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. Turbo tax ez form Refunds received after 2013 and after your income tax return is filed. Turbo tax ez form   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. Turbo tax ez form See Credit recapture, next. Turbo tax ez form Credit recapture. Turbo tax ez form    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. Turbo tax ez form 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. Turbo tax ez form You then refigure your education credit(s) for 2013 and figure the amount by which your 2013 tax liability would have increased if you had claimed the refigured credit(s). Turbo tax ez form Include that amount as an additional tax for the year the refund or tax-free assistance was received. Turbo tax ez form Example. Turbo tax ez form   You pay $9,300 in tuition and fees in December 2013, and your child began college in January 2014. Turbo tax ez form You filed your 2013 tax return on February 14, 2014, and claimed a lifetime learning credit of $1,860. Turbo tax ez form You claimed no other tax credits. Turbo tax ez form After you filed your return, your child withdrew from two courses and you received a refund of $2,900. Turbo tax ez form You must refigure your 2013 lifetime learning credit using $6,400 of qualified education expenses instead of $9,300. Turbo tax ez form The refigured credit is $1,280 and your tax liability increased by $580. Turbo tax ez form See instructions for your 2014 income tax return to determine where to include this tax. Turbo tax ez form 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. Turbo tax ez form Amounts that do not reduce qualified education expenses. Turbo tax ez form   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. Turbo tax ez form   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. Turbo tax ez form 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. Turbo tax ez form The use of the money is not restricted. Turbo tax ez form For examples, see Adjustments to Qualified Education Expenses in chapter 2, American Opportunity Credit. Turbo tax ez form Coordination with Pell grants and other scholarships. Turbo tax ez form   In some cases, you may be able to reduce your tax liability by including scholarships in income. Turbo tax ez form 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. Turbo tax ez form The scholarship must be one that may (by its terms) be applied to expenses (such as room and board) other than qualified education expenses. Turbo tax ez form Example 1—No scholarship. Turbo tax ez form Judy Green, who is unmarried, is taking courses at a public community college to be recertified to teach in public schools. Turbo tax ez form Her AGI and her MAGI, for purposes of the credit, are $27,000. Turbo tax ez form Judy takes the standard deduction of $5,950 and personal exemption of $3,800, reducing her AGI to taxable income of $17,250 and her tax before credits is $2,156. Turbo tax ez form She claims no credits other than the lifetime learning credit. Turbo tax ez form In July 2013 she paid $700 for the summer 2013 semester; in August 2013 she paid $1,900 for the fall 2013 semester; and in December 2013 she paid another $1,900 for the spring semester beginning in January 2014. Turbo tax ez form Judy and the college meet all requirements for the lifetime learning tax credit. Turbo tax ez form She can use all of the $4,500 tuition she paid in 2013 when figuring her 2013 lifetime learning credit. Turbo tax ez form She claims a $900 lifetime learning credit and her tax after credits is $1,256. Turbo tax ez form Example 2—Scholarship excluded from income. Turbo tax ez form The facts are the same as in Example 1—No scholarship, except that Judy was awarded a $1,500 scholarship. Turbo tax ez form Under the terms of her scholarship, it may be used to pay any educational expenses, including room and board. Turbo tax ez form If Judy excludes the scholarship from income, she will be deemed (for purposes of computing her education credit) as having used the scholarship to pay for tuition, required fees, and course materials. Turbo tax ez form Only $3,000 of the $4,500 tuition she paid in 2013 could be used when figuring her 2013 lifetime learning credit. Turbo tax ez form Her lifetime learning credit would be reduced to $600 and her tax after credits would be $1,556. Turbo tax ez form Example 3—Scholarship included in income. Turbo tax ez form The facts are the same as in Example 2—Scholarship excluded from income. Turbo tax ez form If, unlike Example 2, Judy includes the $1,500 scholarship in income, she will be deemed to have used the entire scholarship to pay for room and board. Turbo tax ez form Judy's AGI will increase to $28,500, her taxable income would be $18,750, and her tax before credits would be $2,381. Turbo tax ez form She would be able to use the $4,500 of adjusted qualified education expenses to figure her credit. Turbo tax ez form Judy could claim a $900 lifetime learning credit and her tax after credits would be $1,481. Turbo tax ez form 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. Turbo tax ez form This is true even if the amount must be paid to the institution as a condition of enrollment or attendance. Turbo tax ez form Sports, games, hobbies, and noncredit courses. Turbo tax ez form   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. Turbo tax ez form However, if the course of instruction or other education is part of the student's degree program or is taken by the student to acquire or improve job skills, these expenses can qualify. Turbo tax ez form Comprehensive or bundled fees. Turbo tax ez form   Some eligible educational institutions combine all of their fees for an academic period into one amount. Turbo tax ez form 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 above, contact the institution. Turbo tax ez form 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. Turbo tax ez form See Figuring the Credit , later, for more information about Form 1098-T. Turbo tax ez form Who Is an Eligible Student For purposes of the lifetime learning credit, an eligible student is a student who is enrolled in one or more courses at an eligible educational institution (as defined under Qualified Education Expenses , earlier). Turbo tax ez form 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 a lifetime learning credit for your dependent's expenses for that year. Turbo tax ez form For you to claim a lifetime learning credit for your dependent's expenses, you must also claim an exemption for your dependent. Turbo tax ez form You do this by listing your dependent's name and other required information on Form 1040 (or Form 1040A), line 6c. Turbo tax ez form IF you. Turbo tax ez form . Turbo tax ez form . Turbo tax ez form THEN only. Turbo tax ez form . Turbo tax ez form . Turbo tax ez form claim an exemption on your tax return for a dependent who is an eligible student you can claim the lifetime learning credit based on that dependent's expenses. Turbo tax ez form The dependent cannot claim the credit. Turbo tax ez form 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 lifetime learning credit. Turbo tax ez form You cannot claim the credit based on this dependent's expenses. Turbo tax ez form Expenses paid by dependent. Turbo tax ez form   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. Turbo tax ez form Include these expenses when figuring the amount of your lifetime learning credit. Turbo tax ez form    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. Turbo tax ez form Expenses paid by you. Turbo tax ez form   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 lifetime learning credit. Turbo tax ez form If neither you nor anyone else claims an exemption for the dependent, only the dependent can include any expenses you paid when figuring the lifetime learning credit. Turbo tax ez form Expenses paid by others. Turbo tax ez form   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. Turbo tax ez form In this case, the student is treated as receiving the payment from the other person and, in turn, paying the institution. Turbo tax ez form If you claim an exemption on your tax return for the student, you are considered to have paid the expenses. Turbo tax ez form Example. Turbo tax ez form In 2013, Ms. Turbo tax ez form Allen makes a payment directly to an eligible educational institution for her grandson Todd's qualified education expenses. Turbo tax ez form For purposes of claiming a lifetime learning credit, Todd is treated as receiving the money from his grandmother and, in turn, paying his qualified education expenses himself. Turbo tax ez form Unless an exemption for Todd is claimed on someone else's 2013 tax return, only Todd can use the payment to claim a lifetime learning credit. Turbo tax ez form 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 a lifetime learning credit. Turbo tax ez form If anyone else claims an exemption for Todd, Todd cannot claim a lifetime learning credit. Turbo tax ez form Tuition reduction. Turbo tax ez form   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. Turbo tax ez form 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. Turbo tax ez form For more information on tuition reductions, see Qualified Tuition Reduction in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. Turbo tax ez form Figuring the Credit The amount of the lifetime learning credit is 20% of the first $10,000 of qualified education expenses you paid for all eligible students. Turbo tax ez form The maximum amount of lifetime learning credit you can claim for 2013 is $2,000 (20% × $10,000). Turbo tax ez form However, that amount may be reduced based on your MAGI. Turbo tax ez form See Effect of the Amount of Your Income on the Amount of Your Credit , later. Turbo tax ez form Example. Turbo tax ez form Bruce and Toni Harper are married and file a joint tax return. Turbo tax ez form For 2013, their MAGI is $75,000. Turbo tax ez form Toni is attending a local college (an eligible educational institution) to earn credits toward a degree in nursing. Turbo tax ez form She already has a bachelor's degree in history and wants to become a nurse. Turbo tax ez form In August 2013, Toni paid $5,000 of qualified education expenses for her fall 2013 semester. Turbo tax ez form Bruce and Toni can claim a $1,000 (20% × $5,000) lifetime learning credit on their 2013 joint tax return. Turbo tax ez form Form 1098-T. Turbo tax ez form   To help you figure your lifetime learning credit, the student should receive Form 1098-T. Turbo tax ez form 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. Turbo tax ez form An institution may choose to report either payments received (box 1), or amounts billed (box 2), for qualified education expenses. Turbo tax ez form However, the amounts in boxes 1 and 2 of Form 1098-T might be different from what you paid. Turbo tax ez form When figuring the credit, use only the amounts you paid or are deemed to have paid in 2013 for qualified education expenses. Turbo tax ez form   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. Turbo tax ez form    The eligible educational institution may ask for a completed Form W-9S, or similar statement to obtain the student's name, address, and taxpayer identification number. Turbo tax ez form Effect of the Amount of Your Income on the Amount of Your Credit The amount of your lifetime learning credit is phased out (gradually reduced) if your MAGI is between $53,000 and $63,000 ($107,000 and $127,000 if you file a joint return). Turbo tax ez form You cannot claim a lifetime learning credit if your MAGI is $63,000 or more ($127,000 or more if you file a joint return). Turbo tax ez form Modified adjusted gross income (MAGI). Turbo tax ez form   For most taxpayers, MAGI is adjusted gross income (AGI) as figured on their federal income tax return. Turbo tax ez form MAGI when using Form 1040A. Turbo tax ez form   If you file Form 1040A, your MAGI is the AGI on line 22 of that form. Turbo tax ez form MAGI when using Form 1040. Turbo tax ez form   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. Turbo tax ez form You can use Worksheet 3-1 to figure your MAGI. Turbo tax ez form Worksheet 3-1. Turbo tax ez form MAGI for the Lifetime Learning Credit 1. Turbo tax ez form Enter your adjusted gross income  (Form 1040, line 38)   1. Turbo tax ez form   2. Turbo tax ez form Enter your foreign earned income exclusion and/or housing exclusion (Form 2555, line 45, or Form 2555-EZ, line 18)   2. Turbo tax ez form       3. Turbo tax ez form Enter your foreign housing deduction (Form 2555, line 50)   3. Turbo tax ez form       4. Turbo tax ez form Enter the amount of income from Puerto Rico you are excluding   4. Turbo tax ez form       5. Turbo tax ez form Enter the amount of income from American Samoa you are excluding (Form 4563, line 15)   5. Turbo tax ez form       6. Turbo tax ez form Add the amounts on lines 2, 3, 4, and 5   6. Turbo tax ez form   7. Turbo tax ez form Add the amounts on lines 1 and 6. Turbo tax ez form  This is your modified adjusted  gross income. Turbo tax ez form Enter this amount  on Form 8863, line 14   7. Turbo tax ez form   Phaseout. Turbo tax ez form   If your MAGI is within the range of incomes where the credit must be reduced, you will figure your reduced credit using lines 10-18 of Form 8863. Turbo tax ez form The same method is shown in the following example. Turbo tax ez form Example. Turbo tax ez form You are filing a joint return with a MAGI of $112,000. Turbo tax ez form In 2013, you paid $6,600 of qualified education expenses. Turbo tax ez form You figure the tentative lifetime learning credit (20% of the first $10,000 of qualified education expenses you paid for all eligible students). Turbo tax ez form The result is a $1,320 (20% x $6,600) tentative credit. Turbo tax ez form Because your MAGI is within the range of incomes where the credit must be reduced, you must multiply your tentative credit ($1,320) by a fraction. Turbo tax ez form The numerator of the fraction is $127,000 (the upper limit for those filing a joint return) minus your MAGI. Turbo tax ez form The denominator is $20,000, the range of incomes for the phaseout ($107,000 to $127,000). Turbo tax ez form The result is the amount of your phased out (reduced) lifetime learning credit ($990). Turbo tax ez form   $1,320 × $127,000 − $112,000  $20,000 = $990   Claiming the Credit You claim the lifetime learning credit by completing Form 8863 and submitting it with your Form 1040 or 1040A. Turbo tax ez form Enter the credit on Form 1040, line 49, or Form 1040A, line 31. Turbo tax ez form Note. Turbo tax ez form In Appendix A, Illustrated Example of Education Credits 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. Turbo tax ez form Prev  Up  Next   Home   More Online Publications
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Understanding your CP13M Notice

We made changes to your return involving the Making Work Pay credit or the Government Retiree Credit. You're not due a refund nor do you owe an additional amount because of our changes. Your account balance is zero.

Printable samples of this notice (PDF)

Tax publications you may find useful

How to get help

Calling the 1-800 number listed on the top right corner of your notice is the fastest way to get your questions answered.

You can also authorize someone (such as an accountant) to contact the IRS on your behalf using this Power of Attorney and Declaration of Representative (Form 2848).

Or you may qualify for help from a Low Income Taxpayer Clinic.
 


What you need to do

  • Read your notice carefully — it will explain how the Making Work Pay credit or the Government Retiree Credit relate to the changes we made.
  • Review the notice and compare our changes to the information on your tax return.
  • Correct the copy of your tax return that you kept for your records.
  • You don't need to do anything if you agree with the notice.
  • If you disagree with the notice, please contact us at the toll-free number listed on its top right corner (within 60 days of its date).

You may want to...


Answers to Common Questions

What is the Making Work Pay credit?
It is a refundable tax credit that can go up to $400 for individuals and $800 for married taxpayers.

What is the Government Retiree Credit?
It is a refundable tax credit that can go up to $250 for individuals and $500 for married taxpayers.

What should I do if I disagree with the changes you made?
Contact us at the toll free number listed on the top right corner of your notice if you disagree with the changes we made.

What should I do if I need to make another correction to my tax return?
You'll need to file an amended return to make a correction.


Tips for next year

Consider filing your taxes electronically. Filing online can help you avoid mistakes and find credits and deductions that you may qualify for. In many cases you can file for free. Learn more about e-file.

Perform a quick check on the amount you have withheld to make sure you won't owe money next year. You can use this IRS withholding calculator.

Page Last Reviewed or Updated: 20-Feb-2014

The Turbo Tax Ez Form

Turbo tax ez form Part Two -   Ingresos Los ocho capítulos de esta sección abordan distintos tipos de ingresos. Turbo tax ez form Explican cuáles ingresos están y cuáles no están sujetos a impuestos. Turbo tax ez form Vea la Parte Tres para información sobre ganancias y pérdidas que se declaran en el Formulario 8949 y el Anexo D (Formulario 1040) y para información que debe saber al vender su vivienda. Turbo tax ez form Table of Contents 5. Turbo tax ez form   Salarios, Sueldos y Otros IngresosRecordatorio Introduction Useful Items - You may want to see: Remuneración del EmpleadoNiñeras. Turbo tax ez form Otras Clases de Remuneración Beneficios Marginales Aportaciones a un Plan de Jubilación Opciones de Compra de Acciones Bienes Restringidos Reglas Especiales para Algunos EmpleadosClero Miembros de Órdenes Religiosas Empleador Extranjero Fuerzas Armadas Voluntarios Beneficios por Enfermedad y LesionesPensiones por Incapacidad Contratos de Seguro de Cuidados a Largo Plazo Compensación del Seguro Obrero Otros Beneficios por Enfermedad y Lesiones 6. Turbo tax ez form   Ingresos de PropinasIntroduction Useful Items - You may want to see: Cómo Mantener un Registro Diario de PropinasRegistro electrónico de propinas. Turbo tax ez form Cómo Declarar las Propinas a su EmpleadorInforme electrónico de propinas. Turbo tax ez form Declaración final. Turbo tax ez form Cómo se Declaran las Propinas en la Declaración de Impuestos Asignación de Propinas 7. Turbo tax ez form   Ingresos de InteresesRecordatorio Introduction Useful Items - You may want to see: Información General SSN para una cuenta conjunta. Turbo tax ez form Cuenta de custodia para su hijo. Turbo tax ez form Multa por no facilitar un SSN. Turbo tax ez form Cómo se declara la retención adicional. Turbo tax ez form Cuenta de ahorros con uno de los padres como fideicomisario. Turbo tax ez form Intereses que no se declaran en el Formulario 1099-INT. Turbo tax ez form Nominatarios. Turbo tax ez form Cantidad incorrecta. Turbo tax ez form Requisito de declarar ciertos datos. Turbo tax ez form Intereses Sujetos a ImpuestosIntereses sujetos a la multa por retiro prematuro de fondos. Turbo tax ez form Préstamo para invertir en un certificado de depósito. Turbo tax ez form Bonos de Ahorro de los Estados Unidos Programa de Bonos de Ahorro para Estudios Letras, Pagarés y Bonos del Tesoro de los Estados Unidos Bonos que se Venden Entre las Fechas de Pago de los Intereses Seguros Obligaciones del Gobierno Estatal o Local Descuento de la Emisión Original (OID) Cuándo Se Deben Declarar los Ingresos de InteresesRecibo implícito. Turbo tax ez form Cómo se Declaran los Ingresos de InteresesAnexo B (Formulario 1040A o Formulario 1040). Turbo tax ez form Cómo declarar los intereses exentos de impuesto. Turbo tax ez form Intereses de bonos de ahorro de los EE. Turbo tax ez form UU. Turbo tax ez form declarados anteriormente. Turbo tax ez form 8. Turbo tax ez form   Dividendos y Otras DistribucionesRecordatorio Introduction Useful Items - You may want to see: Información GeneralDividendos no declarados en el Formulario 1099-DIV. Turbo tax ez form Cómo se le informa del impuesto retenido. Turbo tax ez form Nominatarios. Turbo tax ez form Dividendos OrdinariosDividendos Calificados Dividendos Utilizados para la Compra de más Acciones Fondos de Inversión del Mercado Monetario Distribuciones de Ganancias de CapitalAjuste a la base. Turbo tax ez form Distribuciones que no son DividendosDistribuciones de Liquidación Distribuciones de Acciones y Derechos a Acciones Otras DistribucionesRequisito de declarar ciertos datos. Turbo tax ez form Tratamiento del impuesto mínimo alternativo. Turbo tax ez form Cómo Declarar el Ingreso de DividendosDeducción de los intereses de inversiones. Turbo tax ez form 9. Turbo tax ez form   Ingresos y Gastos de AlquilerIntroduction Useful Items - You may want to see: Ingresos de Alquiler Gastos de AlquilerDesocupada mientras está en venta. Turbo tax ez form Reparaciones y Mejoras Otros Gastos Propiedad que Pasa a Ser de Alquiler Alquiler de Parte de una Propiedad Alquiler sin Fines de Lucro Uso Personal de una Unidad Habitable (Incluyendo una Casa de Vacaciones)Cómo Dividir los Gastos Unidad Habitable Usada como Vivienda Cómo Declarar Ingresos y Deducciones DepreciaciónCambio de método contable para deducir depreciación no declarada. Turbo tax ez form Límites sobre las Pérdidas de AlquilerReglas sobre el Monto de Riesgo Límites sobre las Actividades Pasivas Cómo Declarar Ingresos y Gastos de AlquilerAnexo E (Formulario 1040) 10. Turbo tax ez form   Planes de Jubilación, Pensiones y AnualidadesQué Hay de Nuevo Recordatorio IntroductionLa Regla General. Turbo tax ez form Arreglos de ahorros para la jubilación (IRA, por sus siglas en inglés). Turbo tax ez form Beneficios de la jubilación del gobierno federal. Turbo tax ez form Useful Items - You may want to see: Información GeneralReinversiones en arreglos de ahorros para la jubilación designados Roth IRA dentro del mismo plan. Turbo tax ez form Cómo Hacer la Declaración Costo (Inversión en el Contrato) Tributación de Pagos PeriódicosExclusión limitada al costo. Turbo tax ez form Exclusión no limitada al costo. Turbo tax ez form Método Simplificado Tributación de Pagos no PeriódicosDistribuciones de Suma Global ReinversionesReinversiones en arreglos de ahorros para la jubilación designados Roth IRA dentro del mismo plan. Turbo tax ez form Impuestos Adicionales EspecialesImpuesto sobre Distribuciones Prematuras Impuestos sobre Acumulación en Exceso Sobrevivientes y Beneficiarios 11. Turbo tax ez form   Beneficios del Seguro Social y Beneficios Equivalentes de la Jubilación para Empleados FerroviariosIntroduction Useful Items - You may want to see: ¿Está Sujeta a Impuestos Alguna Parte de los Beneficios? Cómo Declarar los Beneficios¿Cuánto Está Sujeto a Impuestos? Ejemplos Deducciones Relacionadas con los BeneficiosReintegros Superiores a los Beneficios Brutos 12. Turbo tax ez form   Otros IngresosIntroduction Useful Items - You may want to see: Trueque Deudas CanceladasIntereses incluidos en una deuda cancelada. Turbo tax ez form Excepciones Anfitrión o Anfitriona Ganancias de un Seguro de VidaCónyuge sobreviviente. Turbo tax ez form Ganancias de un Contrato de Dotación Beneficios Acelerados por Fallecimiento Funcionario de Seguridad Pública Fallecido en el Cumplimiento del Deber Ingresos de Sociedades Colectivas Ingresos de Sociedad Anónima de Tipo S Recuperación de FondosRecuperaciones de Deducciones Detalladas Alquileres de Bienes Muebles ReintegrosMétodo 1. Turbo tax ez form Método 2. Turbo tax ez form RegalíasAgotamiento. Turbo tax ez form Carbón y mineral de hierro. Turbo tax ez form Venta de participación de bienes. Turbo tax ez form Parte de una futura producción vendida. Turbo tax ez form Beneficios por DesempleoTipos de compensación por desempleo. Turbo tax ez form Programa gubernamental. Turbo tax ez form Reintegro de compensación por desempleo. Turbo tax ez form Retención de impuestos. Turbo tax ez form Reintegro de beneficios. Turbo tax ez form Beneficios del Bienestar Social y Otros Beneficios de Asistencia Pública Otros IngresosAngustia emocional. Turbo tax ez form Deducción por costos relativos a una demanda por discriminación ilegal. Turbo tax ez form Medidas de ahorro de energía. Turbo tax ez form Unidad habitable. Turbo tax ez form Ingreso actual que se requiere distribuir. Turbo tax ez form Ingreso actual que no se requiere distribuir. Turbo tax ez form Cómo hacer la declaración. Turbo tax ez form Pérdidas. Turbo tax ez form Fideicomiso de un cesionario. Turbo tax ez form Remuneración para personas que no son empleados. Turbo tax ez form Director de una sociedad anónima. Turbo tax ez form Representante personal. Turbo tax ez form Administrador de una ocupación o negocio de patrimonio en quiebra. Turbo tax ez form Notario público. Turbo tax ez form Funcionario de distrito electoral. Turbo tax ez form Pagos por complejidad del cuidado. Turbo tax ez form Mantenimiento del espacio en el hogar. Turbo tax ez form Declaración de pagos sujetos a impuestos. Turbo tax ez form Loterías y rifas. Turbo tax ez form Formulario W-2G. Turbo tax ez form Cómo declarar ganancias de juegos y apuestas y mantenimiento de documentación. Turbo tax ez form Pensión o arreglo IRA heredado. Turbo tax ez form Recompensas o bonificaciones para empleados. Turbo tax ez form Premio Pulitzer, Premio Nobel y premios similares. Turbo tax ez form Pago por servicios. Turbo tax ez form Pagos del Departamento de Asuntos de Veteranos (VA). Turbo tax ez form Premios. Turbo tax ez form Indemnización por huelga y cierre patronal. Turbo tax ez form Prev  Up  Next   Home   More Online Publications