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- Feb 23, 2011
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Greetings!
So I have quite a few questions and if anyone can help it would be greatly appreciated.
1. I just found out about student tax credits and I know I can amend previous returns, but is it worth it...in terms of cost?
2. Speaking of student tax credits, I know you cannot combine them but which one is a better option for someone who was full-time on government and private loans with little income while attending? (I have graduated now)
I know of the American Opportunity Credit and the Lifetime Learning Credit but not in detail.
3. If I claim foreign wages on my tax return, but exempt them, will it still show up in my total gross income? I ask because I am on an income-based repayment plan for student loans and that would effect my monthly payments when I re-apply.
Like I said, any help or even advice on where to look would be greatly appreciated.
Thanks so much!
So I have quite a few questions and if anyone can help it would be greatly appreciated.
1. I just found out about student tax credits and I know I can amend previous returns, but is it worth it...in terms of cost?
2. Speaking of student tax credits, I know you cannot combine them but which one is a better option for someone who was full-time on government and private loans with little income while attending? (I have graduated now)
I know of the American Opportunity Credit and the Lifetime Learning Credit but not in detail.
3. If I claim foreign wages on my tax return, but exempt them, will it still show up in my total gross income? I ask because I am on an income-based repayment plan for student loans and that would effect my monthly payments when I re-apply.
Like I said, any help or even advice on where to look would be greatly appreciated.
Thanks so much!