Education Tax Benefits
Credit Hours: 5
CPE Category: Taxes
CE Category: Federal Tax
Delivery Method: Online Video
Instructor: Paul J. Winn CLU ChFC
This course examines the programs, credits, deductions and federal income tax treatment of various items that affect saving for and financing an individual's education.
Upon completion of this course, you should be able to:
- Identify the features and tax benefits of qualified tuition programs available under IRC §529
- Recognize the limits and tax treatment of contributions to and distributions from a Coverdell education savings account (ESA)
- Identify the tax treatment of interest earned under qualified U.S. savings bonds used to pay certain education expenses
- Apply the American opportunity and lifetime learning credit rules
- Recognize the tax treatment given to scholarships, fellowships and other types of educational assistance
- Apply the federal income tax rules applicable to student loan interest, student loan cancellations and repayment assistance.