Do I Make Too Much to Take Advantage of Tuition and Student Loan Tax Benefits?
Expired
Thread created 01-27-2013 by Dem Bums
0 Score
10 Replies
1,450 Views
Hey guys,
I think I already know the answer to my question but I wanted to check with you guys. In 2012, I spent about $9K on grad school. I also paid about $500 in interest on my student loans....
Do I Make Too Much to Take Advantage of Tuition and Student Loan Tax Benefits?
Expired
Thread created 01-27-2013 by Dem Bums
0 Score
10 Replies
1,450 Views
To those that have already posted - isn't the OP looking to do something about his 2012 return (e.g. after the fact)?
Do I Make Too Much to Take Advantage of Tuition and Student Loan Tax Benefits?
Expired
Thread created 01-27-2013 by Dem Bums
0 Score
10 Replies
1,450 Views
damn.... I have been putting 10% into my 401k and Im over the limit for deductions. I love how if you pay a crap load of money in taxes, you dont qualify for deductions. Im single with no mortgage so...
Do I Make Too Much to Take Advantage of Tuition and Student Loan Tax Benefits?
Expired
Thread created 01-27-2013 by Dem Bums
0 Score
10 Replies
1,450 Views
That's what I was thinking. Don't know the phase out for iras but maxing out 5k (if eligible) may help OP.
Student loan interest deduction is capped also, somewhere around 2500. Best check...
Do I Make Too Much to Take Advantage of Tuition and Student Loan Tax Benefits?
Expired
Thread created 01-27-2013 by Dem Bums
0 Score
10 Replies
1,450 Views
401k you can't but if you were to try something like the unreimbursed employee expense you could amend a return if it's already filed.
Do I Make Too Much to Take Advantage of Tuition and Student Loan Tax Benefits?
Expired
Thread created 01-27-2013 by Dem Bums
0 Score
10 Replies
1,450 Views
Maybe max out your 401k?
Not sure if that works in this situation, wait for one of the tax guys to chime in.
Do I Make Too Much to Take Advantage of Tuition and Student Loan Tax Benefits?
Expired
Thread created 01-27-2013 by Dem Bums
0 Score
10 Replies
1,450 Views
Too late for 2012 401K salary deferral but if you qualify for a deductible IRA contribution this could have the same affect on lowering AGI.
Do I Make Too Much to Take Advantage of Tuition and Student Loan Tax Benefits?
Expired
Thread created 01-27-2013 by Dem Bums
0 Score
10 Replies
1,450 Views
What kind of graduate degree are you working towards and what do you do for work now? If the two are related you claim it as a non-reimbursed employee expense as long as you can prove it will help...
Do I Make Too Much to Take Advantage of Tuition and Student Loan Tax Benefits?
Expired
Thread created 01-27-2013 by Dem Bums
0 Score
10 Replies
1,450 Views
If that is the case and he finds something he can file an amended return.
Do I Make Too Much to Take Advantage of Tuition and Student Loan Tax Benefits?
Expired
Thread created 01-27-2013 by Dem Bums
0 Score
10 Replies
1,450 Views
how can you pay into a 401k retroactively?
Do I Make Too Much to Take Advantage of Tuition and Student Loan Tax Benefits?
Expired
Thread created 01-27-2013 by Dem Bums
0 Score
10 Replies
1,450 Views
Contributing more to a retirement account would work. Look at lines 23 to 33 on the 1040. Any of those will offset your income for the student tuition, lifetime learning credit and loan deductions.
...
