Hope & Life Time Learning Educational Credits
This is archived information that pertains only to the 2002 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.
Are expenses to attend private high schools eligible for the education credits ?
No. Expenses paid to attend high school do not qualify for the education credits because a high school is not an eligible educational institution. 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 Department of Education. It includes virtually all accredited, public, nonprofit, and proprietary (privately owned profit making) postsecondary institutions.
References: Many high school seniors are also enrolled in colleges for dual academic credits. Are the fees paid to the college eligible for one of the education tax credits?
Expenses paid for college courses taken while attending high school may qualify for the Hope Scholarship Credit or for the Lifetime Learning Credit if the student otherwise meets the qualifications for claiming either of the credits.
References: How do I know if my school is eligible to participate in the education credits?
The educational institution should be able to tell you if it is an eligible educational institution.
References: Do I have to be enrolled in college to get the Hope education credit?
Yes. One qualification to claim the Hope credit is that the student be enrolled in college for at least one academic period beginning in the taxable year.
References: I understand for the Hope Credit I must be in my first 2 years of college. Does that mean I can take the credit if I am ranked as a freshman or a sophomore even if I have been attending college for more than 2 years?
The Hope Credit may be claimed for no more than 2 taxable years and may not be claimed if at the beginning of the taxable year the student has completed the first 2 years of postsecondary education at an eligible educational institution. If the student has not claimed a Hope Credit for more than 1 year and if the educational institution at which the student is enrolled ranks the student as being less than a first-semester junior at the beginning of the year, the student may be eligible to claim the Hope Credit.
References: Is tuition paid to a foreign university eligible for the Hope Credit?
Relatively few, postsecondary institutions located outside of the United States participate in a student aid program administered by the Department of Education. Therefore, tuition paid to a foreign university usually does not qualify for either of the education credits. The educational institution should be able to tell you if it is an eligible educational institution.
References: I am currently attending school for a second bachelor's degree. I completed my original degree several years ago. Am I eligible for the Hope Credit because I am just entering my second year of this bachelor's degree program?
No. Since you have already completed your first 2 years of postsecondary education, the courses that you are now taking do not qualify for the Hope Credit. However, you may be eligible for the Lifetime Learning Credit.
References: I have returned to college after several years. I attend a community college and have not received an associate's degree as of yet. Can I claim the Hope Credit for tuition I paid this year?
You can only claim the Hope Credit if at the beginning of the year, you are not classified as having completed the first 2 years of postsecondary education.
For example, if you attended classes for only one or two semesters, you would still be in your first 2 years of post secondary school. Generally if you attended five or more semesters, you would not be considered in your first 2 years of post secondary school even if you have not attained your associate's degree.
If you don't qualify for the Hope Credit, you may qualify for the Lifetime Learning Credit.
References: Can the Lifetime Learning Credit be used for a high school student taking classes at an approved college prior to graduation from high school?
College courses taken while attending high school may qualify for the Hope Scholarship Credit or for the Lifetime Learning Credit if the student meets the qualifications for claiming either of the credits.
References:
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