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Money you paid for higher education can mean tax savings. If you, your spouse or your de- pendent took post-high school coursework last year, there may be a tax credit or deduction for you. Here are some facts from the IRS about key tax breaks for higher ed- ucation. Credits THE AMERICAN OPPORTU- NITY CREDIT IS • Worth up to $2,500 per eligible student. • Used only for the first four years at an eligi- ble college or vocational school. • For students earning a degree or other recognized credential. • For students going to school at least half-time for at least one academic period that started dur- ing or shortly after the tax year. • Claimed on your tax return using Form 8863, Education Credits. THE LIFETIME LEARNING CREDIT IS • Worth up to $2,000 per tax return, per year, no matter how many stu- dents qualify. • For all years of higher education, including classes for learning or im- proving job skills. • Claimed on your tax return using Form 8863, Education Credits. THE TUITION AND FEES DE- DUCTION IS • Claimed as an adjust- ment to income. • Claimed whether or not you itemize. • Limited to tuition and certain related expenses required for enrollment or attendance at eligible schools. • Worth up to $4,000. ADDITIONALLY • You should re- ceive Form 1098-T, Tu- ition Statement, from your school by Feb. 1, 2016. Your school also sends a copy to the IRS. • You may only claim qualifying expenses paid in 2015. • You can't claim ei- ther credit if someone else claims you as a de- pendent. • You can't claim either AOTC or LLC and the Tu- ition and Fees Deduction for the same student or for the same expense, in the same year. • Income limits could reduce the amount of cred- its or deductions you can claim. The Interactive Tax As- sistant tool on IRS.gov can help you check your eligi- bility. Deductions TUITION AND FEES DEDUC- TION You may be able to deduct qualified educa- tion expenses paid during the year for yourself, your spouse or your dependent. You cannot claim this de- duction if your filing sta- tus is married filing sepa- rately or if another person can claim an exemption for you as a dependent on his or her tax return. The qualified expenses must be for higher education. The tuition and fees de- duction can reduce the amount of your income subject to tax by up to $4,000. This deduction, re- ported on Form 8917, Tu- ition and Fees Deduction, is taken as an adjustment to income. This means you can claim this deduction even if you do not item- ize deductions on Sched- ule A (Form 1040). This deduction may be benefi- cial to you if, for example, you don't qualify for the American opportunity or lifetime learning credits. You may be able to take one of the education cred- its for your education ex- penses instead of a tuition and fees deduction. You can choose the one that will give you the lower tax. You cannot claim the tu- ition and fees deduction as well as an education credit for the same expense. STUDENT LOAN INTEREST DEDUCTION Generally, personal interest you pay, other than certain mort- gage interest, is not de- ductible on your tax re- turn. However, if your modified adjusted gross income (MAGI) is less than $80,000 ($160,000 if filing a joint return), there is a special deduc- tion allowed for paying interest on a student loan (also known as an educa- tion loan) used for higher education. Student loan interest is interest you paid during the year on a qualified student loan. It includes both required and voluntary interest payments. TAX TIPS Ta x sa vi ng s fr om h ig he r ed uc at io n co st s CONTRIBUTEDPHOTO S.E.R.R.F.students,inpartnershipwithDignityHealth,participatedin"TheGreat KindnessChallenge" Jan. 25-29. The week provided powerful tools to actively engage students, staff and families in creating a culture of acceptance, tolerance, unity and respect, through a focus on completing 50 acts of kindness. Students and staff partici- pated in spirit days, starting with a Kindness Kick Off rally, followed up by Team Kind- ness, sports attire day, along with other kindness themed days. S.E.R.R.F. KINDNESS LESSONS The California Commu- nity Colleges Board of Gov- ernors has honored Shasta College geography instruc- tor Melinda Kashuba with the 2015-16 Gerald C. Hay- ward Award for Excellence in Education. Instructors from Berkeley City College, Santa Barbara City, and MiraCosta College also re- ceivedtheaward.Eachwin- nerreceivedacommemora- tive plaque and cash award. Dr. Kashuba received her doctorate from the University of California of Los Angeles, and since joining Shasta College in 2006 has established her- self as excellent instructor who places student learn- ing first. She is a campus leader in online instruc- tion and represents Shasta College on the statewide Online Education Initia- tive. With more than 20 years of research experi- ence, Dr. Kashuba uses her research to show how ge- ography matters in her stu- dents' everyday lives. Beyond the classroom Melinda has authored books (Walking with Your Ancestors: A Genealo- gist's Guide to Using Maps and Geography), numer- ous scholarly articles, and she is a recognized expert in many specialized re- sources, including cartog- raphy, Federal records, the Gold Rush, land records, genealogy, and neighbor- hood reconstruction. A reg- ular volunteer at the Whis- keytown Environmental School, her interests have recently taken her as far afield as Lexington, Mas- sachusetts, where she pre- sented at the Scottish Rite Masonic Museum. Her col- leagues write of her, "Dr. Kashuba is a treasure and a credit to this institution. We are honored to work alongside her." The Hayward Award for Excellence in Education was established in 1989 and is given periodically to community college faculty members who are selected by their peers for demon- strating the highest level of commitment to their stu- dents, college and profes- sion. Award recipients are nominated by their respec- tive college academic sen- ates and then selected by representatives of the Ac- ademic Senate for Califor- nia Community Colleges. Winners must have a re- cord of outstanding per- formance of professional activities, as well as a re- cord of active participation on campus. Shasta Col- lege has had three previ- ous winners of this award. The 2015-16 Hayward Awards are supported through a grant from the Foundation for California Community Colleges. SHASTA COLLEGE In st ru ct or r ec ei ve s Ge ra ld C . Ha yw ar d Award for Excellence in Education P.O. Box 220 Red Bluff, CA 96080 Support our classrooms, keep kids reading. DONATE YOUR VACATION newspaper dollars to the Newspaper In Education Program HELP OUR CHILDREN For more details call Circulation Department (530) 73 7-5047 Please help sponsor a classroom subscription Call Kathy at (530) 737-5047 to find out how. ThroughtheNewspapersinEducation program, area classrooms receive the Red Bluff Daily News every day thanks to the generosity of these local businesses & individuals. THANK YOUFORSUPPORTING N EWS D AILY REDBLUFF TEHAMACOUNTY E V O I C E O F T E H A M A C O U N TY S I N C E 1 8 8 5 NEWSPAPERS NIE • Dignity Health St. Elizabeth Community Hospital • Airport Auto Repair • Bretney-Sutterfield • California Walnut Company • Dudley's Excavating, Inc. • Etzler Financial & Insurance • Greenwaste Of Tehama • Gumm's Optical Shoppe • John Wheeler Logging, Inc. • Lepage Company • Modern Cleaners • North Main Automotive • Olive City Tax Professionals • Placer Title Company • Tehama Co. Dept. 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