Education Tax Benefits (v22) – Video Self Study Course

Course Description

This course examines the programs, credits, deductions and federal income tax treatment of various items that affect saving for and financing an individual's education.

NOTE - This is a Video Self-Study Course

Learning Objectives

Upon successful completion of this course participant should be able to be complete the following objectives:

• Identify the features and tax benefits of qualified tuition programs available under IRC §529
• Recognize the limits and tax treatment of contributions to and distributions from a Coverdell education savings account (ESA)
• Identify the tax treatment of interest earned under qualified U.S. savings bonds used to pay certain education expenses
• Apply the American opportunity and lifetime learning credit rules
• Recognize the tax treatment given to scholarships, fellowships and other types of educational assistance
• Apply the federal income tax rules applicable to student loan interest, student loan cancellations and repayment assistance.

CPE Credits: 5 CPE for CPAs and EAs

Level: Basic

Instructional Method: Self-Study

NASBA Field of Study: Taxes

Program Prerequisites: None

Advanced Preparation: None

Revision Date: October 17, 2022