Explanation of Qualifying Expenses
Education Tax Credits
Internal Revenue Service (IRS) Publication 970 and IRS Form 8863 explain which tuition and fee expenses qualify for education tax credits. At The College at Brockport, the following expenses would meet the criteria specified by the IRS:
Art Lab Fees
Brockport Student Government Fee
Clinical Insurance Fee
IRS specifies that in order for qualifying expenses to be used for tax credits, they must be paid "out of pocket" during the tax year (normally January 1 - December 31) of the taxpayer taking the deduction. At The College at Brockport, the following payments would meet the criteria specified by the IRS:
IRS further specifies that qualifying expenses that were paid must be reduced by grants used to pay those expenses. At Brockport, examples of grants include:
Educational Opportunity Grant (SEOG)
Tuition Assistance Program (TAP)
Aid for Part-Time Study (APTS)
State University Supplemental Tuition Assistance (SUSTA)
SUNY Academic Achievement Awards (SAAA)
Employee Tuition Support
In providing information to students, The College at Brockport takes the following steps:
Note: If the total qualifying expenses has been paid by "out of pocket" payments, i.e., cash, checks, loans, etc., no deduction for grants will be displayed.
The information provided to students in the Online Services page relating
to education tax credits is provided for assistance only. The College at Brockport
is not a tax advisor. Students or other persons claiming education tax
credits should do so only after consulting IRS Publication 970, IRS Form
8863, and/or in consultation with a qualified tax advisor.
Updated September 26th, 2012.
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