XOXO

jenny2penny Posted: Oct 15, 2004 04:53 PM

.

dm24angel Posted: Oct 15, 2004 04:56 PM

Re: Taxes and healthcare question....

you take itemize your health care expenses regardless of reason if you have over $700 of itemized costs...Itemizing things helps BIG time with tax credits.

I used to work for the IRS, now in Health insurance...lol

For school....YES!!! Loans are considered money, not loans and you can take each dollar off ...So, if you paid $2000 for school, you can take $2000 off your imcome..you need an extra form for it. The Tax form will come with insrtuctions to help you.

let me know if next tax season you need help!

jenny2penny Posted: Oct 15, 2004 04:59 PM

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steph4777 Posted: Oct 15, 2004 05:05 PM

Re: Taxes and healthcare question....

I thought that you can't claim student loans only the interest paid on them. The only time you can claim the cost of college is if you pay out of your pocket and not through loans.

You should also looking into the Hope and Lifetime Education credits. I don't know enough about them to give more details.

KarenB Posted: Oct 15, 2004 05:08 PM

Re: Taxes and healthcare question....

Do Copays count? Say if you lay out over $1,000 between co pays and prescriptions

JodiBabe Posted: Oct 15, 2004 05:24 PM

Re: Taxes and healthcare question....

Yes co-pays count

dm24angel Posted: Oct 15, 2004 07:53 PM

Re: Taxes and healthcare question....

The Hope and Lifetime Education credits are for ANY money paid into school ( which includes loans) I have never paid cash, only loans for school and I usually get ( depending on the credit used)..about $2000 a year written off with one of those credits.