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Ouse s name Spouse s social security number Please enter your first name(s) first in the spaces above. If you are married and filing separate New York State returns, you must also enter your spouse s name and social security number. Complete this form to compute your college tuition credit. You must file Form IT-200 or Form IT-201. You cannot claim this credit on Form IT-100. Attach this form to your Form IT-200 or Form IT-201. See instructions, Form IT-272-I, for assistanc.

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An education credit helps with the cost of higher education by reducing the amount of tax owed on your tax return. If the credit reduces your tax to less than zero, you may get a refund. There are two education credits available: the American opportunity tax credit (AOTC) and the lifetime learning credit (LLC).

The American opportunity tax credit (AOTC) is a credit for qualified education expenses paid for an eligible student for the first four years of higher education. You can get a maximum annual credit of $2,500 per eligible student.

The Form 1098-T is a form provided to you and the IRS by an eligible educational institution that reports, among other things, amounts paid for qualified tuition and related expenses. The form may be useful in calculating the amount of the allowable education tax credits.

Eligible taxpayers (student, parent or spouse) can claim the credit for 100% of the first $2,000 spent on qualified education expenses (such as tuition, fees and textbooks). Eligible taxpayer can claim 25% of the next $2,000. The total credit is worth up to $2,500 for each qualifying student.

Important: If you are claiming the college tuition credit or the college tuition itemized deduction, you must submit Form IT-272 with your return.

New York State Tax Credit Program To qualify for the College Tuition Credit, a taxpayer, their spouse, or dependents must be an undergraduate student enrolled at or attending an institution of higher education and have paid qualifying tuition expenses.

The college tuition credit is a tax credit allowed for qualified college tuition expenses paid for an eligible student. For taxpayers with allowable expenses of $5,000 or more, the credit equals the applicable percentage of qualified tuition expenses multiplied by 4 percent.

The credit is limited to $400 per eligible student. The college tuition itemized deduction may offer you a greater tax savings if you itemized your deductions on your New York return. The maximum deduction is $10,000 for each eligible student.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232