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Federal Income Tax Benefits Pertaining to Education

Course Price: $169.00
CPE Credits
January 1, 2019
Course Time
12:00 AM
Advanced Preparation
Course Level
Knowledge of Federal Income Tax
Paul La Monaca CPA, MST

Course Description

This course reviews and updates the Tax Professional on the value of understanding the Federal Income Tax benefits related to investing in §529 Qualified Tuition Programs and §530 Coverdell Plans and the benefits of deferral on the growth of the investment in those programs as well as the exclusion from gross income when the distribution from those funds is used to pay Qualified Higher Education Expenses. The course will also review credits allowed for amounts paid for Tuition and Fees at a qualifying institution of Higher Learning.

Learning Objectives

At the completion of this course participants will have a better understanding of the Federal Income Tax benefits associated with education at all levels.

Topics Covered:

  • §25A Lifetime Learning Credit
  • §25A Credits and §222 Deduction for Qualified Tuition and Fees: Claiming Expenses of a Dependent
  • §25A Credit Recapture Because of Refunds or Assistance
  • §25A American Opportunity Tax Credit: “There’s No Hope Left”
  • §72(t) Additional Tax on Taxable Distributions from a §529 QTP
  • §72(t) Tax Exceptions on Early IRA Distributions for Education Purposes
  • §117 Qualified Scholarships
  • §127 Educational Assistance Programs
  • §135 Exclusion of Interest from U.S. Savings Bonds Used to Pay Higher Education Tuition and Fees
  • §221 Student Loan Interest Deduction
  • §222 Deduction for Qualified Higher Education Expenses
  • §222 Deduction Due Recapture to Refunds or Tax-Free Assistance
  • §529 Qualified Tuition Programs (QTPs)
  • §529 Qualified Educational Expenses
  • §529 QTP Investment Allowable Losses
  • §530 Coverdell Education Savings Account (CESA)
  • §530 Coverdell Educational Savings Account Review Chart
  • Education Program Comparison Sheet
Administration Policies: NSTP follows strict administrative policies
Late Registration
  • Registrations must be received no later than 7 days prior to the seminar date.
  • Registrations received after this date will be subject to a $35 late fee.
  • NSTP provides refunds to registrants up to 7 days prior to the date of the course. For those registrants canceling within 14 days prior to the date of the course NSTP will allow attendance at another seminar site. If there are extraordinary circumstances NSTP will allow the participant to attend a future education course. An administrative charge of $25 will be assessed if canceled. For more information regarding refund, cancellation and complaint policies, please contact our offices at 800-367-8130
  • NSTP reserves the right to cancel any program or course for circumstances that are not under direct control of NSTP. If a course or program is canceled, participants will be refunded 100% of their registration fee.
  • We do not accept walk-in attendees. Payment must be received in advance of the class. Classes may not be retaken without payment.
  • Seminar materials and seminar presentations are intended to stimulate thought and discussion and to provide attendees the useful ideas and guidance in the areas of federal taxation and administration. These materials as well as the comments of the instructors do not constitute and should not be treated as tax advice regarding the use of any particular tax procedure, tax planning technique or device or suggestion or any of the tax consequences associated with them.
  • Although the NSTP has made every effort to ensure the accuracy of the materials and the seminar presentation, neither the author, the presenter nor the National Society of Tax Professionals assumes any responsibility for any individual's reliance on the written or oral information presented during the presentation. Each attendee should verify independently all statements made in the materials and during the seminar presentation before applying them to a particular fact pattern and should determine independently the tax and other consequences of using any particular device, technique or suggestion before recommending the same to a client or implementing the same on a client's or on his or her own behalf.
Attendance Policy
  • Only paid registrants are able to attend seminars. In consideration of your fellow attendees, guests will need to depart before the session begins. The seminar lunch is for paid registrants only and is included in the registration fee.