NY-3 NY TRAINING-2009 1 NY COLLEGE TUITION CREDIT/DEDUCTION REF: NY PUB 99-IND IT 272 INSTR.

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Presentation transcript:

NY-3 NY TRAINING NY COLLEGE TUITION CREDIT/DEDUCTION REF: NY PUB 99-IND IT 272 INSTR

NY-3 NY TRAINING TWO COLLEGE TUITION CREDIT/DEDUCTION EXAMPLE  JOINT RETURN  NY RESIDENT RETURN  TWO SCENARIOS  A: DEPENDENT WITH $8000 UNDERGRAD TUITION AT SCHENECTADY COUNTY CC (HOPE CREDIT)  B: DEPENDENT WITH $8000 UNDERGRAD TUITION AT STATE UNIVERSITY (LLC)

NY-3 NY TRAINING NEW YORK COLLEGE TUITION CREDIT/DEDUCTION ITEMIZED DEDUCTION OPTION

NY-3 NY TRAINING ITEMIZED DEDUCTION OPTION  TAXPAYER REQUIREMENTS  NY RESIDENT, NY NONRESIDENT, NY PART YEAR RESIDENT  NOT A DEPENDENT  STUDENT REQUIREMENTS  EXEMPTION ON TAXPAYER’S FEDERAL RETURN  UNDERGRADUATE COLLEGE TUITION  FULLTIME OR PARTTIME  FEDERAL LLC OR HOPE CREDIT

NY-3 NY TRAINING ITEMIZED DEDUCTION OPTION  INCLUDE IN NY ITEMIZED DEDUCTIONS  UP TO $10,000 PER STUDENT  ANY NUMBER OF STUDENTS

NY-3 NY TRAINING ITEMIZED DEDUCTION OPTION  IT 201 ITEMIZED DEDUCTION WORKSHEET

NY-3 NY TRAINING NEW YORK COLLEGE TUITION CREDIT/DEDUCTION CREDIT OPTION

NY-3 NY TRAINING CREDIT OPTION  TAXPAYER REQUIREMENTS  NY RESIDENT  NOT A DEPENDENT  STUDENT REQUIREMENTS  EXEMPTION ON TAXPAYER’S FEDERAL RETURN  UNDERGRADUATE COLLEGE TUITION  FULLTIME OR PARTTIME  FEDERAL LLC OR HOPE CREDIT

NY-3 NY TRAINING CREDIT OPTION  COMPLETE IT 272  UP TO $400 PER STUDENT  ANY NUMBER OF STUDENTS

NY-3 NY TRAINING CREDIT OPTION HOPE CREDIT TAKEN ON FEDERAL RETURN

NY-3 NY TRAINING IT 201 PAGE 4

NY-3 NY TRAINING PART I

NY-3 NY TRAINING IT 272 PART 1-INITIAL

NY-3 NY TRAINING IT 272 PART 1 COMPLETED

NY-3 NY TRAINING IT 272 PARTS 2 & 3

NY-3 NY TRAINING IT 272 PART 4

NY-3 NY TRAINING IT 201 PAGE 4

NY-3 NY TRAINING CREDIT OPTION LIFETIME LEARNING CREDIT TAKEN ON FEDERAL RETURN

NY-3 NY TRAINING PART II

NY-3 NY TRAINING IT 201 PAGE 4

NY-3 NY TRAINING ALLOW ENTRY OF STUDENT DATA ON IT 272

NY-3 NY TRAINING IT 272 PART 1 INITIAL

NY-3 NY TRAINING IT 272 PART 1 COMPLETED

NY-3 NY TRAINING IT 272 PARTS 2 & 3

NY-3 NY TRAINING IT 272 PART 4

NY-3 NY TRAINING IT 201 PAGE 4

NY-3 NY TRAINING COLLEGE TUITION CREDIT/DEDUCTION QUESTIONS?