Saturday, May 12, 2012

TAX QUESTION ON EDUCATION CREDIT AND CLAIMING CHILD

Q: Hey how are you doing sir? I was wondering if you could help me out with some doubts I have about a college form I got, a tuition statement. Not sure how I can put it on my taxes. Also, I have a two-year old whom her mom claimed so I am wondering if I can claim her on my taxes or just write down the child support I paid for the year? Can I just print the form from irs.gov to file and send it to them?

 A: The tuition form most likely tells how much tuition you paid that qualifies for the education tax credit.  Here are resources from www.irs.gov pub 970 on the tax credits for education:  American Opportunity Credit

As for your other question- Since the mother claimed the child then you are not eligible to claim.  I am presuming that the mother has custody.  If you had custody for over 6 months let me know and I will comment further.

Sorry, but child support is not deductible. 

 Good luck!

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