tax question

Texasrocks

10-Year Member
5-Year Member
Joined
Sep 8, 2009
Messages
250
We got the w2 for c4c. Is there a schedule anywhere on what deductions they can take for uniforms, equipment.... or is that all taken out pretax?
 
not exactly sure how it works but my roommate just got a huge tax return. if you go to the hanging garment warehouse and ask for a transcript of all your issued uniforms you can put that on your return somewhere. I guess Obama has a program where you can get $1000 back for educational expenses. good luck!
 
I'm pretty sure your salary is around $11,000, and it's doubtful you have enough deductions using form 1040 to exceed the standard deduction ($5,700).

Almost 99% of all cadets/mids will be filing a 1040A or even 1040EZ.
 
I agree with Luigi.

Highly doubtful that you meet the barrier for doing deductions.

Don't waste your time and effort.
 
As a c4c can still be claimed on parents and take deductions I believe since parents provided more than 50% support in 2010
 
As a c4c can still be claimed on parents and take deductions I believe since parents provided more than 50% support in 2010

This question comes up every year, and the answer is always "It depends". Please talk to a tax professional. We were not able to claim our son as a dependent for 2007 when he reported for BCT, because we couldn't show that we provided more that 50%. The amount of support is based on dollars, rather than time. Because the appointment to USAFA is not considered a scholarship, the dollar value of one semester's education cost must be included on the AF side of the support, along with the $10.60 per day for food, and all of the other things that AF provides. Even with private HS tuition for him for the first half of 2007, we were not even close to contributing more than half of his support.

There is usually guidance for this in the parent's newsletter during tax time.

Stealth_81
 
not exactly sure how it works but my roommate just got a huge tax return. if you go to the hanging garment warehouse and ask for a transcript of all your issued uniforms you can put that on your return somewhere. I guess Obama has a program where you can get $1000 back for educational expenses. good luck!

We are not eligible for those credits:

In 2009 there were three tax credits available to help offset the costs of higher education by reducing the amount of your taxable income. They are American Opportunity Credit, the Hope Credit, and the Lifetime Learning Credit. The American Opportunity Credit is the newest education tax credit of the three and is only available for 2009 and 2010. The maximum credit per student is $2,500 and this credit is available for the first 4 years of postsecondary education. It is based on qualified education expenses you pay for yourself, your spouse, or a dependent for which you claim an exemption on your tax return. Qualified education expenses are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Eligible educational institutions are any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U.S. Department of Education.

Since USAFA student aid program is administered by DOD and not the U.S. Department of Education, it is not an eligible educational institution as defined in IRS publication 970, Tax Benefits for Education, and does not file any Form 1098-T. Generally, an eligible educational institution must send Form 1098-T to each enrolled student by February 1, 2010. Because USAFA is not an eligible educational institution, any education expenses including books, supplies, and equipment needed for a course of study are not qualified
education expenses for American Opportunity Credit, the Hope Credit or Lifetime Learning Credit.

http://www.usafa.edu/superintendent/cma/newsletters/2010/10 Feb.pdf
 
I have to agree, we paid private ed from Jan to June, still wasn't quite comfortable with claiming him on our taxes. Did the quick and easy 1040EZ, simple as can be, with Fed and State, he got back almost $600. I did our taxes with and without him, the difference was minimal, certainly not worth the chance of an audit. Just my opinion, :)
 
also, if they are claimed as a dependent on the parents return, they will lose the $400 credit they would otherwise get on their own return.
 
No. It may seem that way because more males apply to the SAs and therefore there are probably more that post on this forum. If you look at the list of USAFA 2015 appointments you'll see quite a few girls (and their parents).
Good Luck!:thumb:
 
No. It may seem that way because more males apply to the SAs and therefore there are probably more that post on this forum. If you look at the list of USAFA 2015 appointments you'll see quite a few girls (and their parents).
Good Luck!:thumb:

Pssst - it's a spambot just trying to post an advertising link to their website.

Not a real question from a real poster.

:ban:
 
Back
Top