Kerry M. Kerstetter, CPA (referred to as The Tax Guru by other CPAs around the country) helps capitalists, investors & small business owners win the tax game. See www.TaxGuru.org for much more detailed info.
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Tax Guru-Ker$tetter Letter
Friday, February 04, 2005
Lifetime Earning Credit
Q:
hi , i check your web page and it look great. i am preparing the tax return for my girlfriend father, the father put her as his dependent, she is 26 years old the father pays part of the tuition for her to go to college. can he claim the lifetime learning credit|?
thank you
A:
As long as your girlfriend meets all of the tests to qualify as her father's dependent, he would be able to claim the credit for her education costs. I can't find any age limit on qualifying dependents in the rules for the credit. Of course, the father's AGI would also have to be under the "Evil Rich" phase-out threshold in order to qualify for the full credit.
Kerry Kerstetter
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 2/04/2005 08:47:00 PM Send this post:
