big_j_gizzy
New member
Online I read: Individuals making less than $80,000 or families making less than $160,000 can get up to $2,500 in tax credits for college tuition. 40 percent ($1,000) of the credit is refundable.
I've been going to school for 4 years but do not have my degree yet, do I still apply? If so...
If only 40% is refundable, I'm assuming the only way you can use the other $1500 is if you owe the government money when you file taxes?
I normally file W-2's and get money back at the end of the year so would that extra $1500 disappear?
I also might change jobs and be filing a 1099...where I would owe the government at the end of the year. If that's the case, does the tax credit help pay off what I would owe the government?
Sorry, many questions in 1 but thanks for the help.
I've been going to school for 4 years but do not have my degree yet, do I still apply? If so...
If only 40% is refundable, I'm assuming the only way you can use the other $1500 is if you owe the government money when you file taxes?
I normally file W-2's and get money back at the end of the year so would that extra $1500 disappear?
I also might change jobs and be filing a 1099...where I would owe the government at the end of the year. If that's the case, does the tax credit help pay off what I would owe the government?
Sorry, many questions in 1 but thanks for the help.