Education Credits for 2010

[aprilvaca04]

We have 2 in college this year for the first time. How do the education credits work? Do we get them for each child?

 

[figaromeetsmarie]

Would like to know,too.

 

[taximomfor4]

not sure either. I only have one in college at this time. I did start this year's tax return today, though (will update as w2's, etc come in the mail). Once I put in the tuition/books we paid for, my tax return changed pretty drastically. Great if it's true, but until I get the real paperwork, won't know.

So I hope you get the credit for each student...and if not, maybe you can get a different credit for the second child.

 

[tar heel]

Yes -- assuming you meet the income requirements. It could turn out, however, that you take a credit for one and deduction for the other -- you need to see which is most advantageous. Sometimes, the deduction is better for kids past their first two years, especially.