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File taxes for free 2011 6. File taxes for free 2011   Tuition and Fees Deduction Table of Contents IntroductionWhat is the tax benefit of the tuition and fees deduction. File taxes for free 2011 Can You Claim the DeductionWho Can Claim the Deduction Who Cannot Claim the Deduction What Expenses QualifyQualified Education Expenses No Double Benefit Allowed Expenses That Do Not Qualify Who Is an Eligible Student Who Can Claim a Dependent's Expenses Figuring the DeductionEffect of the Amount of Your Income on the Amount of Your Deduction Claiming the Deduction Illustrated Example Introduction You may be able to deduct qualified education expenses paid during the year for yourself, your spouse, or your dependent(s). File taxes for free 2011 You cannot claim this deduction if your filing status is married filing separately or if another person can claim an exemption for you as a dependent on his or her tax return. File taxes for free 2011 The qualified expenses must be for higher education, as explained later under Qualified Education Expenses . File taxes for free 2011 What is the tax benefit of the tuition and fees deduction. File taxes for free 2011   The tuition and fees deduction can reduce the amount of your income subject to tax by up to $4,000. File taxes for free 2011   This deduction is taken as an adjustment to income. File taxes for free 2011 This means you can claim this deduction even if you do not itemize deductions on Schedule A (Form 1040). File taxes for free 2011 This deduction may be beneficial to you if you do not qualify for the American opportunity or lifetime learning credits. File taxes for free 2011 You can choose the education benefit that will give you the lowest tax. File taxes for free 2011 You may want to compare the tuition and fees deduction to the education credits. File taxes for free 2011 See chapter 2, American Opportunity Credit and chapter 3, Lifetime Learning Credit for more information on the education credits. File taxes for free 2011 Table 6-1. File taxes for free 2011 Tuition and Fees Deduction at a Glance summarizes the features of the tuition and fees deduction. File taxes for free 2011 Can You Claim the Deduction The following rules will help you determine if you can claim the tuition and fees deduction. File taxes for free 2011 Who Can Claim the Deduction Generally, you can claim the tuition and fees deduction if all three of the following requirements are met. File taxes for free 2011 You pay qualified education expenses of higher education. File taxes for free 2011 You pay the education expenses for an eligible student. File taxes for free 2011 The eligible student is yourself, your spouse, or your dependent for whom you claim an exemption on your tax return. File taxes for free 2011 The term “qualified education expenses” is defined later under Qualified Education Expenses . File taxes for free 2011 “Eligible student” is defined later under Who Is an Eligible Student . File taxes for free 2011 For more information on claiming the deduction for a dependent, see Who Can Claim a Dependent's Expenses , later. File taxes for free 2011 Table 6-1. File taxes for free 2011 Tuition and Fees Deduction at a Glance Do not rely on this table alone. File taxes for free 2011 Refer to the text for complete details. File taxes for free 2011 Question Answer What is the maximum benefit? You can reduce your income subject to tax by up to $4,000. File taxes for free 2011 What is the limit on modified adjusted gross income (MAGI)? $160,000 if married filing a joint return; $80,000 if single, head of household, or qualifying widow(er). File taxes for free 2011 Where is the deduction taken? As an adjustment to income on  Form 1040 or Form 1040A. File taxes for free 2011 For whom must the expenses be paid? A student enrolled in an eligible educational institution who is either: •you,  •your spouse, or  •your dependent for whom you claim an exemption. File taxes for free 2011 What tuition and fees are deductible? Tuition and fees required for enrollment or attendance at an eligible postsecondary educational institution, but not including personal, living, or family expenses, such as room and board. File taxes for free 2011 Who Cannot Claim the Deduction You cannot claim the tuition and fees deduction if any of the following apply. File taxes for free 2011 Your filing status is married filing separately. File taxes for free 2011 Another person can claim an exemption for you as a dependent on his or her tax return. File taxes for free 2011 You cannot take the deduction even if the other person does not actually claim that exemption. File taxes for free 2011 Your modified adjusted gross income (MAGI) is more than $80,000 ($160,000 if filing a joint return). File taxes for free 2011 You (or your spouse) were a nonresident alien for any part of 2013 and the nonresident alien did not elect to be treated as a resident alien for tax purposes. File taxes for free 2011 More information on nonresident aliens can be found in Publication 519. File taxes for free 2011 What Expenses Qualify The tuition and fees deduction is based on qualified education expenses you pay for yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. File taxes for free 2011 Generally, the deduction is allowed for qualified education expenses paid in 2013 in connection with enrollment at an institution of higher education during 2013 or for an academic period beginning in 2013 or in the first 3 months of 2014. File taxes for free 2011 For example, if you paid $1,500 in December 2013 for qualified tuition for the spring 2014 semester beginning in January 2014, you may be able to use that $1,500 in figuring your 2013 deduction. File taxes for free 2011 Academic period. File taxes for free 2011   An academic period includes a semester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. File taxes for free 2011 In the case of an educational institution that uses credit hours or clock hours and does not have academic terms, each payment period can be treated as an academic period. File taxes for free 2011 Paid with borrowed funds. File taxes for free 2011   You can claim a tuition and fees deduction for qualified education expenses paid with the proceeds of a loan. File taxes for free 2011 Use the expenses to figure the deduction for the year in which the expenses are paid, not the year in which the loan is repaid. File taxes for free 2011 Treat loan disbursements sent directly to the educational institution as paid on the date the institution credits the student's account. File taxes for free 2011 Student withdraws from class(es). File taxes for free 2011   You can claim a tuition and fees deduction for qualified education expenses not refunded when a student withdraws. File taxes for free 2011 Qualified Education Expenses For purposes of the tuition and fees deduction, qualified education expenses are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. File taxes for free 2011 Eligible educational institution. File taxes for free 2011   An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. File taxes for free 2011 S. File taxes for free 2011 Department of Education. File taxes for free 2011 It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. File taxes for free 2011 The educational institution should be able to tell you if it is an eligible educational institution. File taxes for free 2011   Certain educational institutions located outside the United States also participate in the U. File taxes for free 2011 S. File taxes for free 2011 Department of Education's Federal Student Aid (FSA) programs. File taxes for free 2011 Related expenses. File taxes for free 2011   Student-activity fees and expenses for course-related books, supplies, and equipment are included in qualified education expenses only if the fees and expenses must be paid to the institution as a condition of enrollment or attendance. File taxes for free 2011 Prepaid expenses. File taxes for free 2011   Qualified education expenses paid in 2013 for an academic period that begins in the first three months of 2014 can be used in figuring an education credit for 2013 only. File taxes for free 2011 See Academic period , earlier. File taxes for free 2011 For example, you pay $2,000 in December 2013 for qualified tuition for the 2014 winter quarter that begins in January 2014, you can use that $2,000 in figuring an education credit for 2013 only (if you meet all the other requirements). File taxes for free 2011 You cannot use any amount you paid in 2012 or 2014 to figure the qualified education expenses you use to figure your 2013 education credit(s). File taxes for free 2011 In the following examples, assume that each student is an eligible student and each college or university an eligible educational institution. File taxes for free 2011 Example 1. File taxes for free 2011 Jackson is a sophomore in University V's degree program in dentistry. File taxes for free 2011 This year, in addition to tuition, he is required to pay a fee to the university for the rental of the dental equipment he will use in this program. File taxes for free 2011 Because the equipment rental fee must be paid to University V for enrollment and attendance, Jackson's equipment rental fee is a qualified education expense. File taxes for free 2011 Example 2. File taxes for free 2011 Donna and Charles, both first-year students at College W, are required to have certain books and other reading materials to use in their mandatory first-year classes. File taxes for free 2011 The college has no policy about how students should obtain these materials, but any student who purchases them from College W's bookstore will receive a bill directly from the college. File taxes for free 2011 Charles bought his books from a friend, so what he paid for them is not a qualified education expense. File taxes for free 2011 Donna bought hers at College W's bookstore. File taxes for free 2011 Although Donna paid College W directly for her first-year books and materials, her payment is not a qualified education expense because the books and materials are not required to be purchased from College W for enrollment or attendance at the institution. File taxes for free 2011 Example 3. File taxes for free 2011 When Marci enrolled at College X for her freshman year, she had to pay a separate student activity fee in addition to her tuition. File taxes for free 2011 This activity fee is required of all students, and is used solely to fund on-campus organizations and activities run by students, such as the student newspaper and the student government. File taxes for free 2011 No portion of the fee covers personal expenses. File taxes for free 2011 Although labeled as a student activity fee, the fee is required for Marci's enrollment and attendance at College X. File taxes for free 2011 Therefore, it is a qualified expense. File taxes for free 2011 No Double Benefit Allowed You cannot do any of the following. File taxes for free 2011 Deduct qualified education expenses you deduct under any other provision of the law, for example, as a business expense. File taxes for free 2011 Deduct qualified education expenses for a student on your income tax return if you or anyone else claims an American opportunity or lifetime learning credit for that same student in the same year. File taxes for free 2011 Deduct qualified education expenses that have been used to figure the tax-free portion of a distribution from a Coverdell education savings account (ESA) or a qualified tuition program (QTP). File taxes for free 2011 For a QTP, this applies only to the amount of tax-free earnings that were distributed, not to the recovery of contributions to the program. File taxes for free 2011 See Coordination With Tuition and Fees Deduction in chapter 8, Qualified Tuition Program, later. File taxes for free 2011 Deduct qualified education expenses that have been paid with tax-free interest on U. File taxes for free 2011 S. File taxes for free 2011 savings bonds (Form 8815). File taxes for free 2011 See Figuring the Tax-Free Amount in chapter 10, Education Savings Bond Program, later. File taxes for free 2011 Deduct qualified education expenses that have been paid with tax-free educational assistance, such as a scholarship, grant, or assistance provided by an employer. File taxes for free 2011 See the following section on Adjustments to Qualified Education Expenses. File taxes for free 2011 Adjustments to Qualified Education Expenses For each student, reduce the qualified education expenses paid by or on behalf of that student under the following rules. File taxes for free 2011 The result is the amount of adjusted qualified education expenses for each student. File taxes for free 2011 You must also reduce qualified education expenses by the other amounts referred to in No Double Benefit Allowed , earlier. File taxes for free 2011 Tax-free educational assistance. File taxes for free 2011   For tax-free educational assistance received in 2013, reduce the qualified educational expenses for each academic period by the amount of tax-free educational assistance allocable to that academic period. File taxes for free 2011 See Academic period , earlier. File taxes for free 2011   Some tax-free educational assistance received after 2013 may be treated as a refund of qualified education expenses paid in 2013. File taxes for free 2011 This tax-free educational assistance is any tax-free educational assistance received by you or anyone else after 2013 for qualified education expenses paid on behalf of a student in 2013 (or attributable to enrollment at an eligible educational institution during 2013). File taxes for free 2011   If this tax-free educational assistance is received after 2013 but before you file your 2013 income tax return, see Refunds received after 2013 but before your income tax return is filed , later. File taxes for free 2011 If this tax-free educational assistance is received after 2013 and after you file your 2013 income tax return, see Refunds received after 2013 and after your income tax return is filed , later. File taxes for free 2011   This tax-free education assistance includes: The tax-free part of scholarships and fellowships (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Pell grants (see Pell Grants and Other Title IV Need-Based Education Grants in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. File taxes for free 2011 Generally, any scholarship or fellowship is treated as tax free. File taxes for free 2011 However, a scholarship or fellowship is not treated as tax free to the extent the student includes it in gross income (if the student is required to file a tax return for the year the scholarship or fellowship is received) and either of the following is true. File taxes for free 2011 The scholarship or fellowship (or any part of it) must be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. File taxes for free 2011 The scholarship or fellowship (or any part of it) may be applied (by its terms) to expenses (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. File taxes for free 2011 You may be able to increase the combined value of an education credit and certain educational assistance if the student includes some or all of the educational assistance in income in the year it is received. File taxes for free 2011 For details, see Adjustments to Qualified Education Expenses in chapters 2 and 3. File taxes for free 2011 Refunds. File taxes for free 2011   A refund of qualified education expenses may reduce adjusted qualified education expenses for the tax year or require repayment (recapture) of a credit claimed in an earlier year. File taxes for free 2011 Some tax-free educational assistance received after 2013 may be treated as a refund. File taxes for free 2011 See Tax-free educational assistance , earlier. File taxes for free 2011 Refunds received in 2013. File taxes for free 2011   For each student, figure the adjusted qualified education expenses for 2013 by adding all the qualified education expenses for 2013 and subtracting any refunds of those expenses received from the eligible educational institution during 2013. File taxes for free 2011 Refunds received after 2013 but before your income tax return is filed. File taxes for free 2011   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is paid before you file an income tax return for 2013, the amount of qualified education expenses for 2013 is reduced by the amount of the refund. File taxes for free 2011 Refunds received after 2013 and after your income tax return is filed. File taxes for free 2011   If anyone receives a refund after 2013 of qualified education expenses paid on behalf of a student in 2013 and the refund is paid after you file an income tax return for 2013, you may need to repay some or all of the credit. File taxes for free 2011 See Credit recapture , later. File taxes for free 2011 Coordination with Coverdell education savings accounts and qualified tuition programs. File taxes for free 2011   Reduce your qualified education expenses by any qualified education expenses used to figure the exclusion from gross income of (a) interest received under an education savings bond program, or (b) any distribution from a Coverdell education savings account or qualified tuition program (QTP). File taxes for free 2011 For a QTP, this applies only to the amount of tax-free earnings that were distributed, not to the recovery of contributions to the program. File taxes for free 2011 Credit recapture. File taxes for free 2011    If any tax-free educational assistance for the qualified education expenses paid in 2013 or any refund of your qualified education expenses paid in 2013 is received after you file your 2013 income tax return, you must recapture (repay) any excess credit. File taxes for free 2011 You do this by refiguring the amount of your adjusted qualified education expenses for 2013 by reducing that amount by the amount of the refund or tax-free educational assistance. File taxes for free 2011 You then refigure your education credit(s) for 2013 and figure the amount by which your 2013 tax liability would have increased if you had claimed the refigured credit(s). File taxes for free 2011 Include that amount as an additional tax for the year the refund or tax-free assistance was received. File taxes for free 2011 Example. File taxes for free 2011   You paid $3,500 of qualified education expenses in December 2013, and your child began college in January 2014. File taxes for free 2011 You claimed $3,500 as the tuition and fees deduction on your 2013 income tax return. File taxes for free 2011 The reduction reduced your taxable income by $3,500. File taxes for free 2011 Also, you claimed no tax credits in 2013. File taxes for free 2011 Your child withdrew from two classes and you received a refund of $2,000 in 2014 after you filed your 2013 tax return. File taxes for free 2011 Refigure your 2013 tuition and fees deduction using $1,500 of qualified education expense instead of the $3,500. File taxes for free 2011 The refigured tuition and fees deduction is $1,500. File taxes for free 2011 Do not file an amended 2013 tax return to account for this adjustment. File taxes for free 2011 Instead, include the difference of $2,000 (but only to the extent this difference would have increased your 2013 tax) on the “Other income” line of your 2014 Form 1040. File taxes for free 2011 You cannot file Form 1040A for 2014. File taxes for free 2011 Amounts that do not reduce qualified education expenses. File taxes for free 2011   Do not reduce qualified education expenses by amounts paid with funds the student receives as: Payment for services, such as wages, A loan, A gift, An inheritance, or A withdrawal from the student's personal savings. File taxes for free 2011   Do not reduce the qualified education expenses by any scholarship or fellowship reported as income on the student's tax return in the following situations. File taxes for free 2011 The use of the money is restricted, by the terms of the scholarship or fellowship, to costs of attendance (such as room and board) other than qualified education expenses as defined in Qualified education expenses in chapter 1, Scholarships, Fellowships, Grants, and Tuition Restrictions. File taxes for free 2011 The use of the money is not restricted. File taxes for free 2011 Example 1. File taxes for free 2011 In 2013, Jackie paid $3,000 for tuition and $5,000 for room and board at University X. File taxes for free 2011 The university did not require her to pay any fees in addition to her tuition in order to enroll in or attend classes. File taxes for free 2011 To help pay these costs, she was awarded a $2,000 scholarship and a $4,000 student loan. File taxes for free 2011 The terms of the scholarship state that it can be used to pay any of Jackie's college expenses. File taxes for free 2011 University X applies the $2,000 scholarship against Jackie's $8,000 total bill, and Jackie pays the $6,000 balance of her bill from University X with a combination of her student loan and her savings. File taxes for free 2011 Jackie does not report any portion of the scholarship as income on her tax return. File taxes for free 2011 In figuring the tuition and fees deduction, Jackie must reduce her qualified education expenses by the amount of the scholarship ($2,000) because she excluded the entire scholarship from her income. File taxes for free 2011 The student loan is not tax-free educational assistance, so she does not need to reduce her qualified expenses by any part of the loan proceeds. File taxes for free 2011 Jackie is treated as having paid $1,000 in qualified education expenses ($3,000 tuition – $2,000 scholarship) in 2013. File taxes for free 2011 Example 2. File taxes for free 2011 The facts are the same as in Example 1, except that Jackie reports her entire scholarship as income on her tax return. File taxes for free 2011 Because Jackie reported the entire $2,000 scholarship in her income, she does not need to reduce her qualified education expenses. File taxes for free 2011 Jackie is treated as having paid $3,000 in qualified education expenses. File taxes for free 2011 Expenses That Do Not Qualify Qualified education expenses do not include amounts paid for: Insurance, Medical expenses (including student health fees), Room and board, Transportation, or Similar personal, living, or family expenses. File taxes for free 2011 This is true even if the amount must be paid to the institution as a condition of enrollment or attendance. File taxes for free 2011 Sports, games, hobbies, and noncredit courses. File taxes for free 2011   Qualified education expenses generally do not include expenses that relate to any course of instruction or other education that involves sports, games or hobbies, or any noncredit course. File taxes for free 2011 However, if the course of instruction or other education is part of the student's degree program, these expenses can qualify. File taxes for free 2011 Comprehensive or bundled fees. File taxes for free 2011   Some eligible educational institutions combine all of their fees for an academic period into one amount. File taxes for free 2011 If you do not receive, or do not have access to, an allocation showing how much you paid for qualified education expenses and how much you paid for personal expenses, such as those listed above, contact the institution. File taxes for free 2011 The institution is required to make this allocation and provide you with the amount you paid (or were billed) for qualified education expenses on Form 1098-T. File taxes for free 2011 See Figuring the Deduction , later, for more information about Form 1098-T. File taxes for free 2011 Who Is an Eligible Student For purposes of the tuition and fees deduction, an eligible student is a student who is enrolled in one or more courses at an eligible educational institution (as defined under Qualified Education Expenses , earlier). File taxes for free 2011 Who Can Claim a Dependent's Expenses Generally, in order to claim the tuition and fees deduction for qualified education expenses for a dependent, you must: Have paid the expenses, and Claim an exemption for the student as a dependent. File taxes for free 2011 For you to be able to deduct qualified education expenses for your dependent, you must claim an exemption for that individual. File taxes for free 2011 You do this by listing your dependent's name and other required information on Form 1040 (or Form 1040A), line 6c. File taxes for free 2011 IF your dependent is an eligible student and you. File taxes for free 2011 . File taxes for free 2011 . File taxes for free 2011 AND. File taxes for free 2011 . File taxes for free 2011 . File taxes for free 2011 THEN. File taxes for free 2011 . File taxes for free 2011 . File taxes for free 2011 claim an exemption for your dependent you paid all qualified education expenses for your dependent only you can deduct the qualified education expenses that you paid. File taxes for free 2011 Your dependent cannot take a deduction. File taxes for free 2011 claim an exemption for your dependent your dependent paid all qualified education expenses no one is allowed to take a deduction. File taxes for free 2011 do not claim an exemption for your dependent you paid all qualified education expenses no one is allowed to take a deduction. File taxes for free 2011 do not claim an exemption for your dependent your dependent paid all qualified education expenses no one is allowed to take a deduction. File taxes for free 2011 Expenses paid by dependent. File taxes for free 2011   If your dependent pays qualified education expenses, no one can take a tuition and fees deduction for those expenses. File taxes for free 2011 Neither you nor your dependent can deduct the expenses. File taxes for free 2011 For purposes of the tuition and fees deduction, you are not treated as paying any expenses actually paid by a dependent for whom you or anyone other than the dependent can claim an exemption. File taxes for free 2011 This rule applies even if you do not claim an exemption for your dependent on your tax return. File taxes for free 2011 Expenses paid by you. File taxes for free 2011   If you claim an exemption for a dependent who is an eligible student, only you can include any expenses you paid when figuring your tuition and fees deduction. File taxes for free 2011 Expenses paid under divorce decree. File taxes for free 2011   Qualified education expenses paid directly to an eligible educational institution for a student under a court-approved divorce decree are treated as paid by the student. File taxes for free 2011 Only the student would be eligible to take a tuition and fees deduction for that payment, and then only if no one else could claim an exemption for the student. File taxes for free 2011 Expenses paid by others. File taxes for free 2011   Someone other than you, your spouse, or your dependent (such as a relative or former spouse) may make a payment directly to an eligible educational institution to pay for an eligible student's qualified education expenses. File taxes for free 2011 In this case, the student is treated as receiving the payment from the other person and, in turn, paying the institution. File taxes for free 2011 If you claim, or can claim, an exemption on your tax return for the student, you are not considered to have paid the expenses and you cannot deduct them. File taxes for free 2011 If the student is not a dependent, only the student can deduct payments made directly to the institution for his or her expenses. File taxes for free 2011 If the student is your dependent, no one can deduct the payments. File taxes for free 2011 Example. File taxes for free 2011 In 2013, Ms. File taxes for free 2011 Baker makes a payment directly to an eligible educational institution for her grandson Dan's qualified education expenses. File taxes for free 2011 For purposes of deducting tuition and fees, Dan is treated as receiving the money from his grandmother and, in turn, paying his own qualified education expenses. File taxes for free 2011 If an exemption cannot be claimed for Dan on anyone else's tax return, only Dan can claim a tuition and fees deduction for his grandmother's payment. File taxes for free 2011 If someone else can claim an exemption for Dan, no one will be allowed a deduction for Ms. File taxes for free 2011 Baker's payment. File taxes for free 2011 Tuition reduction. File taxes for free 2011   When an eligible educational institution provides a reduction in tuition to an employee of the institution (or spouse or dependent child of an employee), the amount of the reduction may or may not be taxable. File taxes for free 2011 If it is taxable, the employee is treated as receiving a payment of that amount and, in turn, paying it to the educational institution on behalf of the student. File taxes for free 2011 For more information on tuition reductions, see Qualified Tuition Reduction , in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions. File taxes for free 2011 Figuring the Deduction The maximum tuition and fees deduction in 2013 is $4,000, $2,000, or $0, depending on the amount of your MAGI. File taxes for free 2011 See Effect of the Amount of Your Income on the Amount of Your Deduction , later. File taxes for free 2011 Form 1098-T. File taxes for free 2011   To help you figure your tuition and fees deduction, the student should receive Form 1098-T (see Appendix A for a completed example of Form 1098-T). File taxes for free 2011 Generally, an eligible educational institution (such as a college or university) must send Form 1098-T (or acceptable substitute) to each enrolled student by January 31, 2014. File taxes for free 2011 An institution may choose to report either payments received (box 1), or amounts billed (box 2), for qualified education expenses. File taxes for free 2011 However, the amount in boxes 1 and 2 of Form 1098-T might be different than what you paid. File taxes for free 2011 When figuring the deduction, use only the amounts you paid in 2013 for qualified education expenses. File taxes for free 2011   In addition, Form 1098-T should give other information for that institution, such as adjustments made for prior years, the amount of scholarships or grants, reimbursements or refunds, and whether the student was enrolled at least half-time or was a graduate student. File taxes for free 2011    The eligible educational institution may ask for a completed Form W-9S or similar statement to obtain the student's name, address, and taxpayer identification number. File taxes for free 2011 Effect of the Amount of Your Income on the Amount of Your Deduction If your MAGI is not more than $65,000 ($130,000 if you are married filing jointly), your maximum tuition and fees deduction is $4,000. File taxes for free 2011 If your MAGI is larger than $65,000 ($130,000 if you are married filing jointly), but is not more than $80,000 ($160,000 if you are married filing jointly), your maximum deduction is $2,000. File taxes for free 2011 No tuition and fees deduction is allowed if your MAGI is larger than $80,000 ($160,000 if you are married filing jointly). File taxes for free 2011 Modified adjusted gross income (MAGI). File taxes for free 2011   For most taxpayers, MAGI is adjusted gross income (AGI) as figured on their federal income tax return before subtracting any deduction for tuition and fees. File taxes for free 2011 However, as discussed below, there may be other modifications. File taxes for free 2011 MAGI when using Form 1040A. File taxes for free 2011   If you file Form 1040A, your MAGI is the AGI on line 22 of that form, figured without taking into account any amount on line 19 (tuition and fees deduction). File taxes for free 2011 MAGI when using Form 1040. File taxes for free 2011   If you file Form 1040, your MAGI is the AGI on line 38 of that form, figured without taking into account any amount on line 34 (tuition and fees deduction) or line 35 (domestic production activities deduction), and modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion, Foreign housing deduction, Exclusion of income by bona fide residents of American Samoa, and Exclusion of income by bona fide residents of Puerto Rico. File taxes for free 2011   Table 6-2 shows how the amount of your MAGI can affect your tuition and fees deduction. File taxes for free 2011   You can use Worksheet 6-1. File taxes for free 2011 MAGI for the Tuition and Fees Deduction , later, to figure your MAGI. File taxes for free 2011 Table 6-2. File taxes for free 2011 Effect of MAGI on Maximum Tuition and Fees Deduction IF your filing status is. File taxes for free 2011 . File taxes for free 2011 . File taxes for free 2011 AND your MAGI is. File taxes for free 2011 . File taxes for free 2011 . File taxes for free 2011 THEN your maximum tuition and fees deduction is. File taxes for free 2011 . File taxes for free 2011 . File taxes for free 2011 single,  head of household, or qualifying widow(er) not more than $65,000 $4,000. File taxes for free 2011 more than $65,000  but not more than $80,000 $2,000. File taxes for free 2011 more than $80,000 $0. File taxes for free 2011 married filing joint return not more than $130,000 $4,000. File taxes for free 2011 more than $130,000 but not more than $160,000 $2,000. File taxes for free 2011 more than $160,000 $0. File taxes for free 2011 Claiming the Deduction You claim a tuition and fees deduction by completing Form 8917 and submitting it with your Form 1040 or Form 1040A. File taxes for free 2011 Enter the deduction on Form 1040, line 34, or Form 1040A, line 19. File taxes for free 2011 A filled-in Form 8917 is shown at the end of this chapter. File taxes for free 2011 Illustrated Example Tim Pfister, a single taxpayer, enrolled full-time at a local college to earn a degree in engineering. File taxes for free 2011 This is the first year of his postsecondary education. File taxes for free 2011 During 2013, he paid $3,600 for his qualified 2013 tuition expense. File taxes for free 2011 Both he and the college meet all of the requirements for the tuition and fees deduction. File taxes for free 2011 Tim's total income (Form 1040, line 22) and MAGI are $26,000. File taxes for free 2011 He figures his deduction of $3,600 as shown on Form 8917, later. File taxes for free 2011 Worksheet 6-1. File taxes for free 2011 MAGI for the Tuition and Fees Deduction Use this worksheet if you are filing Form 2555, 2555-EZ, or 4563, or you are excluding income from sources within Puerto Rico. File taxes for free 2011 Before using this worksheet, you must complete Form 1040, lines 7 through 33, and figure any amount to be entered on the dotted line next to line 36. File taxes for free 2011 1. File taxes for free 2011 Enter the amount from Form 1040, line 22   1. File taxes for free 2011         2. File taxes for free 2011 Enter the total from Form 1040, lines 23 through 33   2. File taxes for free 2011               3. File taxes for free 2011 Enter the total of any amounts entered on the dotted line next to Form 1040, line 36   3. File taxes for free 2011               4. File taxes for free 2011 Add lines 2 and 3   4. File taxes for free 2011         5. File taxes for free 2011 Subtract line 4 from line 1   5. File taxes for free 2011         6. File taxes for free 2011 Enter your foreign earned income exclusion and/or housing  exclusion (Form 2555, line 45, or Form 2555-EZ, line 18)   6. File taxes for free 2011         7. File taxes for free 2011 Enter your foreign housing deduction (Form 2555, line 50)   7. File taxes for free 2011         8. File taxes for free 2011 Enter the amount of income from Puerto Rico you are excluding   8. File taxes for free 2011         9. File taxes for free 2011 Enter the amount of income from American Samoa you are  excluding (Form 4563, line 15)   9. File taxes for free 2011         10. File taxes for free 2011 Add lines 5 through 9. File taxes for free 2011 This is your modified adjusted gross income   10. File taxes for free 2011     Note. File taxes for free 2011 If the amount on line 10 is more than $80,000 ($160,000 if married filing jointly),  you cannot take the deduction for tuition and fees. File taxes for free 2011       This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Form 8917 for Tim Pfister Prev  Up  Next   Home   More Online Publications
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SOI Tax Stats - Gift Tax Statistics

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What is the Federal Gift Tax?


 

The Federal gift tax is a tax on the right to transfer property from a living person to other persons or trusts. Reported on Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, data are collected on the donor and recipient of gifts that exceed the annual exclusion. The name of the recipient, recipient's relationship to the donor, type of property, and value of gift are reported, as are the total value of a donor's lifetime gifts and tax computation items.

For information about selected terms and concepts and a description of the data sources and limitations, please visit Gift Tax Study Metadata.

 


 

Statistical Tables

Total Gifts of Donor, Total Gifts, Deductions, Credits, and Net Gift Tax

 

 


SOI Bulletin Articles

These articles are in .PDF format.  Adobe Acrobat® reader

 

2009 Gifts
This article presents data on gifts made during 2009. Donors filed a total of 223,093 returns for 2009, reporting a total of $$37.9 billion in assets transferred to 867,507 donees, primarily children and grandchildren.

2008 Gifts
This article presents data on gifts made during 2008. Donors filed a total of 234,714 returns for 2008, reporting a total of $40.2 billion in assets transferred to 927,554 donees, primarily children and grandchildren.

2007 Gifts
This article describes gifts made during calendar year 2007.  There were a total of 257,485 gift tax returns filed in 2008.  247,932 returns, or 96.3 percent, were nontaxable.  The remaining 9,553 (3.7 percent) were taxable.

Wealth Transfers, 2005 Gifts

This article describes gifts made during calendar year 2005.  A total of $38.5 billion in assets was transferred from donors to donees, or gift recipients.  Only 2.9 percent of returns were taxable, with $1.7 billion in gift tax liability reported.

 

Inter Vivos Wealth Transfers, 1997 Gifts
This article describes gifts made during calendar year 1997.  Like transfers of wealth at death, wealth transfers during life—called inter vivos wealth transfers—are subject to Federal taxation.  Only individual gifts in excess of $10,000 were potentially taxable for Gift Year 1997.

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Page Last Reviewed or Updated: 21-Oct-2013

The File Taxes For Free 2011

File taxes for free 2011 Publication 584 - Additional Material Table of Contents This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Entrance Hall This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Living Room This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Dining Room This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Kitchen This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Den This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Bedrooms This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Bathrooms This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Recreation Room This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Laundry and Basement This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Garage This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Sporting Equipment This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Men's Clothing This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Women's Clothing This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Children's Clothing This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Jewelry This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Electrical Appliances This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Linens This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Miscellaneous This image is too large to be displayed in the current screen. File taxes for free 2011 Please click the link to view the image. File taxes for free 2011 Motor Vehicles Schedule 20. File taxes for free 2011 Home (Excluding Contents) Note. File taxes for free 2011 If you used the entire property as your home, fill out only column (a). File taxes for free 2011 If you used part of the property as your home and part of it for business or to produce rental income, you must allocate the entries on lines 2-9 between the personal part (column (a)) and the business/rental part (column (b)). File taxes for free 2011 1. File taxes for free 2011 Description of property (Show location and date acquired. File taxes for free 2011 )     (a)  Personal Part (b)  Business/Rental Part 2. File taxes for free 2011 Cost or other (adjusted) basis of property (from Worksheet A)     3. File taxes for free 2011 Insurance or other reimbursement Note. File taxes for free 2011 If line 2 is more than line 3, skip line 4. File taxes for free 2011 If line 3 is more than line 2, you exclude gain, and the gain is more than you can exclude, see the instructions for line 3 in the Instructions for Form 4684 for the amount to enter. File taxes for free 2011     4. File taxes for free 2011 Gain from casualty. File taxes for free 2011 If line 3 is more than line 2, enter the difference here and skip lines 5 through 9. File taxes for free 2011 But see Next below line 9. File taxes for free 2011     5. File taxes for free 2011 Fair market value before casualty     6. File taxes for free 2011 Fair market value after casualty     7. File taxes for free 2011 Decrease in fair market value. File taxes for free 2011 Subtract line 6 from line 5. File taxes for free 2011     8. File taxes for free 2011 Enter the smaller of line 2 or line 7 Note for business/rental part. File taxes for free 2011 If the property was totally destroyed by casualty, enter on line 8, column (b) the amount from line 2, column (b). File taxes for free 2011     9. File taxes for free 2011 Subtract line 3 from line 8. File taxes for free 2011 If zero or less, enter -0-. File taxes for free 2011     Next: Transfer the entries from line 1 and lines 2-9, column (a), above to the corresponding lines on Form 4684, Section A. File taxes for free 2011 Transfer the entries from line 1 and lines 2-9, column (b), to the corresponding lines on Form 4684, Section B. File taxes for free 2011 Worksheet A. File taxes for free 2011 Cost or Other (Adjusted) Basis Caution. File taxes for free 2011 See the Worksheet A Instructions before you use this worksheet. File taxes for free 2011         (a) Personal Part (b) Business/Rental Part 1. File taxes for free 2011   Enter the purchase price of the home damaged or destroyed. File taxes for free 2011 (If you filed Form 2119 when you originally acquired that home to postpone gain on the sale of a previous home before May 7, 1997, enter the adjusted basis of the new home from that Form 2119. File taxes for free 2011 ) 1. File taxes for free 2011     2. File taxes for free 2011   Seller paid points for home bought after 1990. File taxes for free 2011 Do not include any seller-paid points you already subtracted to arrive at the amount entered on line 1 2. File taxes for free 2011     3. File taxes for free 2011   Subtract line 2 from line 1 3. File taxes for free 2011     4. File taxes for free 2011   Settlement fees or closing costs. File taxes for free 2011 (See Settlement costs in Publication 551. File taxes for free 2011 ) If line 1 includes the adjusted basis of the new home from Form 2119, skip lines 4a-4g and 5; go to line 6. File taxes for free 2011         a. File taxes for free 2011 Abstract and recording fees 4a. File taxes for free 2011       b. File taxes for free 2011 Legal fees (including fees for title search and preparing documents) 4b. File taxes for free 2011       c. File taxes for free 2011 Survey fees 4c. File taxes for free 2011       d. File taxes for free 2011 Title insurance 4d. File taxes for free 2011       e. File taxes for free 2011 Transfer or stamp taxes 4e. File taxes for free 2011       f. File taxes for free 2011 Amounts that the seller owed that you agreed to pay (back taxes or interest, recording or mortgage fees, and sales commissions) 4f. File taxes for free 2011       g. File taxes for free 2011 Other 4g. File taxes for free 2011     5. File taxes for free 2011   Add lines 4a through 4g 5. File taxes for free 2011     6. File taxes for free 2011   Cost of additions and improvements. File taxes for free 2011 (See Increases to Basis in Publication 551. File taxes for free 2011 ) Do not include any additions and improvements included on line 1 6. File taxes for free 2011     7. File taxes for free 2011   Special tax assessments paid for local improvements, such as streets and sidewalks 7. File taxes for free 2011     8. File taxes for free 2011   Other increases to basis 8. File taxes for free 2011     9. File taxes for free 2011   Add lines 3, 5, 6, 7, and 8 9. File taxes for free 2011     10. File taxes for free 2011   Depreciation allowed or allowable, related to the business use or rental of the home 10. File taxes for free 2011 0   11. File taxes for free 2011   Other decreases to basis (See Decreases to Basis in Publication 551. File taxes for free 2011 ) 11. File taxes for free 2011     12. File taxes for free 2011   Add lines 10 and 11 12. File taxes for free 2011     13. File taxes for free 2011   Cost or other (adjusted) basis of home damaged or destroyed. File taxes for free 2011 Subtract line 12 from line 9. File taxes for free 2011 Enter here and on Schedule 20, line 2 13. File taxes for free 2011     Worksheet A Instructions. File taxes for free 2011 If you use Worksheet A to figure the cost or other (adjusted) basis of your home, follow these instructions. File taxes for free 2011 DO NOT use this worksheet to determine your basis if you acquired an interest in your home from a decedent who died in 2010 and whose executor filed Form 8939. File taxes for free 2011 IF. File taxes for free 2011 . File taxes for free 2011 . File taxes for free 2011   THEN. File taxes for free 2011 . File taxes for free 2011 . File taxes for free 2011 you inherited your home from a decedent who died either before or after 2010 or from a decedent who died in 2010 and whose executor did not file Form 8939. File taxes for free 2011 1 skip lines 1–4 of the worksheet. File taxes for free 2011 2 find your basis using the rules under Inherited Property in Publication 551. File taxes for free 2011 Enter this amount on line 5 of the worksheet. File taxes for free 2011 3 fill out lines 6–13 of the worksheet. File taxes for free 2011 you received your home as a gift 1 read Property Received as a Gift in Publication 551 and enter on lines 1 and 3 of the worksheet either the donor's adjusted basis or the home's fair market value at the time of the gift, whichever is appropriate. File taxes for free 2011 2 if you can add any federal gift tax to your basis, enter that amount on line 5 of the worksheet. File taxes for free 2011 3 fill out the rest of the worksheet. File taxes for free 2011 you received your home as a trade for other property 1 enter on line 1 of the worksheet the fair market value of the other property at the time of the trade. File taxes for free 2011 (But if you received your home as a trade for your previous home before May 7, 1997, and had a gain on the trade that you postponed using Form 2119, enter on line 1 of the worksheet the adjusted basis of the new home from that Form 2119. File taxes for free 2011 ) 2 fill out the rest of the worksheet. File taxes for free 2011 you built your home 1 add the purchase price of the land and the cost of building the home. File taxes for free 2011 Enter that total on line 1 of the worksheet. File taxes for free 2011 (However, if you filed a Form 2119 to postpone gain on the sale of a previous home before May 7, 1997, enter on line 1 of the worksheet the adjusted basis of the new home from that Form 2119. File taxes for free 2011 ) 2 fill out the rest of the worksheet. File taxes for free 2011 you received your home from your spouse after July 18, 1984 1 skip lines 1–4 of the worksheet. File taxes for free 2011 2 enter on line 5 of the worksheet your spouse's cost or other (adjusted) basis in the home just before you received it. File taxes for free 2011 3 fill out lines 6–13 of the worksheet, making adjustments to basis only for events after the transfer. File taxes for free 2011 you owned a home jointly with your spouse, who transferred his or her interest in the home to you after July 18, 1984     fill out one worksheet, making adjustments to basis for events both before and after the transfer. File taxes for free 2011   you received your home from your spouse before July 19, 1984 1 skip lines 1–4 of the worksheet. File taxes for free 2011 2 enter on line 5 of the worksheet the home's fair market value at the time you received it. File taxes for free 2011 3 fill out lines 6–13 of the worksheet, making adjustments to basis only for events after the transfer. File taxes for free 2011 you owned a home jointly with your spouse, and your spouse transferred his or her interest in the home to you before July 19, 1984 1 fill out a worksheet, lines 1–13, making adjustments to basis only for events before the transfer. File taxes for free 2011 2 multiply the amount on line 13 of that worksheet by 50% (0. File taxes for free 2011 50) to get the adjusted basis of your half-interest at the time of the transfer. File taxes for free 2011 3 multiply the fair market value of the home at the time of the transfer by 50% (0. File taxes for free 2011 50). File taxes for free 2011 Generally, this is the basis of the half-interest that your spouse owned. File taxes for free 2011 4 add the amounts from steps 2 and 3 and enter the total on line 5 of a second worksheet. File taxes for free 2011 5 complete lines 6–13 of the second worksheet, making adjustments to basis only for events after the transfer. File taxes for free 2011 you owned your home jointly with a nonspouse 1 fill out lines 1–13 of the worksheet. File taxes for free 2011 2 multiply the amount on line 13 by your percentage of ownership to get the adjusted basis of your part-interest. File taxes for free 2011 Worksheet A Instructions. File taxes for free 2011 (Continued) IF. File taxes for free 2011 . File taxes for free 2011 . File taxes for free 2011   THEN. File taxes for free 2011 . File taxes for free 2011 . File taxes for free 2011 you owned your home jointly with your spouse who died before 2010 and before the casualty 1 fill out a worksheet, lines 1–13, including adjustments to basis only for events before your spouse's death. File taxes for free 2011 2 multiply the amount on line 13 of that worksheet by 50% (0. File taxes for free 2011 50) to get the adjusted basis of your half-interest on the date of death. File taxes for free 2011 3 figure the basis for the half-interest owned by your spouse. File taxes for free 2011 This is one-half of the fair market value on the date of death (or later alternate valuation used for estate or inheritance tax). File taxes for free 2011 (The basis in your half will remain one-half of the adjusted basis determined in step 2. File taxes for free 2011 ) 4 add the amounts from steps 2 and 3 and enter the total on line 5 of a second worksheet. File taxes for free 2011 5 complete lines 6–13 of the second worksheet, making adjustments to basis only for events after your spouse's death. File taxes for free 2011 you owned your home jointly with your spouse who died before 2010 and before the casualty, and your permanent legal home is in a community property state 1 skip lines 1–4 of the worksheet. File taxes for free 2011 2 enter the amount of your basis on line 5 of the worksheet. File taxes for free 2011 Generally, this is the fair market value of the home at the time of death. File taxes for free 2011 (But see Community Property in Publication 551 for special rules. File taxes for free 2011 ) 3 fill out lines 6–13 of the worksheet, making adjustments to basis only for events after your spouse's death. File taxes for free 2011 you owned your home jointly with a nonspouse who died before 2010 and before the casualty 1 fill out lines 1–13 of the worksheet, including adjustments to basis only for events before the co-owner's death. File taxes for free 2011 2 multiply the amount on line 13 by your percentage of ownership to get the adjusted basis of your part-interest on the date of death. File taxes for free 2011 3 multiply the fair market value on the date of death (or later alternate valuation used for estate or inheritance tax) by the co-owner's percentage of ownership. File taxes for free 2011 This is the basis for the co-owner's part-interest. File taxes for free 2011 4 add the amounts from steps 2 and 3 and enter the total on line 5 of a second worksheet. File taxes for free 2011 5 complete lines 6–13 of the second worksheet, including adjustments to basis only for events after the co-owner's death. File taxes for free 2011 your home was ever damaged as a result of a prior casualty 1 on line 8 of the worksheet, enter any amounts you spent to restore the home to its condition before the prior casualty. File taxes for free 2011 2 on line 11 enter: any insurance reimbursements you received (or expect to receive) for the prior loss,  and any deductible casualty losses from prior years not covered by insurance. File taxes for free 2011 the person who sold you your home paid points on your loan and you bought your home after 1990 but before April 4, 1994. File taxes for free 2011   on line 2 enter the seller-paid points only if you deducted them as home mortgage interest in the year paid (unless you used the seller-paid points to reduce the amount on line 1). File taxes for free 2011 the person who sold you your home paid points on your loan and you bought your home after April 3, 1994   on line 2 enter the seller-paid points even if you did not deduct them (unless you used the seller-paid points to reduce the amount on line 1). File taxes for free 2011 you used part of the property as your home and part of it for business or to produce rental income   you must allocate the entries on Worksheet A between the personal part (column (a)) and the business/rental part (column (b)). File taxes for free 2011 none of these items apply   fill out the entire worksheet. File taxes for free 2011 Prev  Up  Next   Home   More Online Publications