01-27-2010, 07:15 PM
bricabrac Wrote:Peace,
I didn't ask and will not know until my returns are completed. From my own research last year I knew there would be special added tax cuts for education allowed this year (and next); I think you can actually use both avenues this year but unsure of what credits/deductions apply to each. I bow to accountants, keeping up with the ever changing tax codes and forms is an art of itself! I could never do it!
eeya:
FYI: from IRS form 8863 Education Credits (2009) :
Lifetime Learning Credit. Caution: You cannot take the American opportunity credit or the Hope credit and the
lifetime learning credit for the same student in the same year.