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EE1. Federal Income Tax Benefits Pertaining to Education | On-Demand

Course Price: $169.00
CPE Credits
Advanced Preparation
Course Level
Knowledge of Federal Income Tax
Credits not offered
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

To receive the member price, first log into your member account. Your member discount will then be automatically applied. We can also take your registration by phone.

Your registration confirmation will be emailed to you when your payment is processed. During our busy season, this can take up to 2-3 business days after we receive your registration.

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Yes. If you have a PTIN on file with us, we will submit your hours. To insure we have your correct info, please provide your PTIN when you register for a course. Please notify us if you have recently submitted a name change request to the IRS.

Your certificate will be emailed to you within 10 business days of the completion of the course.

Administration: On-Demand
On-Demand Refunds
  • Once your registration confirmation is emailed, due to the proprietary materials and content of On-Demand orders are NOT ELIGIBLE for refund, cancellation, or transfer to another NSTP course.
On-Demand Disclaimer
  • On-Demand materials and On-Demand presentations are intended to stimulate thought and discussion and to provide attendees 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 tax procedure, tax planning technique, 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 device, technique, or suggestion before recommending the same to a client or implementing the same on behalf of a client, or on the attendee’s own behalf.
  • On-Demand materials & presentations are fully protected under copyright law. Any attempt to copy for resale, distribution, or use other than personal use for tax preparation will be fully prosecuted of the law.
Testing Policy
  • On-Demand require a test for CPE. 3 attempts are allowed.
  • You have 1 (one) year from date of purchase to complete the On-Demand course by taking the test.
More Information For more information regarding refund, cancellation, and complaint policies, please contact our offices at 1(800) 367-8130.