2004 Instructions for Form 1040 (ALL) - Supreme Law Firm
2004 Instructions for Form 1040 (ALL) - Supreme Law Firm
2004 Instructions for Form 1040 (ALL) - Supreme Law Firm
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<strong>Form</strong> <strong>1040</strong>—Lines 27 Through 29<br />
<strong>for</strong> the student’s enrollment or attendance For more details, use TeleTax topic 457<br />
Line 27 at an eligible educational institution during (see page 8) or see Pub. 970.<br />
<strong>2004</strong>. Tuition and fees paid in <strong>2004</strong> <strong>for</strong> an<br />
Tuition and Fees Deduction academic period that begins in the first 3<br />
You may be able to take a credit<br />
You can take this deduction only if all of months of 2005 can also be used in figuring TIP <strong>for</strong> your educational expenses<br />
the following apply.<br />
your deduction. Amounts paid include<br />
instead of a deduction. See the<br />
those paid by credit card or with borrowed<br />
instructions <strong>for</strong> line 49 on page<br />
• You paid qualified tuition and fees<br />
funds. An eligible educational institution<br />
36 <strong>for</strong> details.<br />
(see this page) in <strong>2004</strong> <strong>for</strong> yourself, your<br />
spouse, or your dependent(s).<br />
includes most colleges, universities, and<br />
certain vocational schools.<br />
• Your filing status is any status except<br />
married filing separately.<br />
Qualified tuition and fees do not include Line 28<br />
• Your modified adjusted gross income<br />
amounts paid <strong>for</strong> the following amounts.<br />
•<br />
Health Savings Account<br />
(AGI) is not more than: $80,000 if single, Room and board, insurance, medical<br />
head of household, or qualifying expenses (including student health fees), Deduction<br />
widow(er); $160,000 if married filing transportation, or other similar personal, If contributions (other than employer conjointly.<br />
Use lines 1 through 3 of the workings<br />
account <strong>for</strong> <strong>2004</strong>, you may be able to<br />
living, or family expenses.<br />
tributions) were made to your health sav-<br />
sheet below to figure your modified AGI. • Course-related books, supplies, equiptake<br />
this deduction. See <strong>Form</strong> 8889.<br />
• You cannot be claimed as a dependent ment, and nonacademic activities, except<br />
on someone’s (such as your parent’s) <strong>2004</strong> <strong>for</strong> fees required to be paid to the institution<br />
tax return.<br />
as a condition of enrollment or attendance.<br />
• You are not claiming an education • Any course involving sports, games, Line 29<br />
credit <strong>for</strong> the same student. See the instrucstudent’s<br />
degree program.<br />
Moving Expenses<br />
or hobbies, unless such course is part of the<br />
tions <strong>for</strong> line 49 on page 36.<br />
• You were a U.S. citizen or resident Qualified tuition and fees must be re- If you moved in connection with your job<br />
alien <strong>for</strong> all of <strong>2004</strong> or you were a nonresi- duced by the following benefits.<br />
or business or started a new job, you may<br />
dent alien <strong>for</strong> any part of <strong>2004</strong> and you are • Excludable U.S. series EE and I savfiling<br />
a joint return.<br />
ings bond interest from <strong>Form</strong> 8815. workplace must be at least 50 miles farther<br />
be able to take this deduction. But your new<br />
Use the worksheet below to figure your • Nontaxable qualified tuition program from your old home than your old home<br />
tuition and fees deduction.<br />
earnings.<br />
was from your old workplace. If you had no<br />
<strong>for</strong>mer workplace, your new workplace<br />
Exception. Use Pub. 970 instead of the • Nontaxable earnings from Coverdell<br />
must be at least 50 miles from your old<br />
worksheet below to figure your tuition and education savings accounts.<br />
home. Use TeleTax topic 455 (see page 8)<br />
fees deduction if you file <strong>Form</strong> 2555, • Any scholarship, educational assis- or see <strong>Form</strong> 3903.<br />
2555-EZ, or 4563, or you exclude income tance allowance, or other payment (but not<br />
from sources within Puerto Rico.<br />
gifts, inheritances, etc.) excluded from income.<br />
Qualified tuition and fees are amounts<br />
paid in <strong>2004</strong> <strong>for</strong> tuition and fees required<br />
Tuition and Fees Deduction Worksheet—Line 27<br />
Keep <strong>for</strong> Your Records<br />
Be<strong>for</strong>e you begin: Complete <strong>Form</strong> <strong>1040</strong>, lines 28 through 34a, if they apply to you.<br />
Figure any write-in adjustments to be entered on the dotted line next to line 35 (see the<br />
instructions <strong>for</strong> line 35 on page 31).<br />
See the instructions <strong>for</strong> line 27 above.<br />
Be sure you have read the Exception above to see if you can use this worksheet instead of<br />
Pub. 970 to figure your deduction.<br />
1. Enter the amount from <strong>Form</strong> <strong>1040</strong>, line 22 ........................................ 1.<br />
2. Enter the total of the amounts from <strong>Form</strong> <strong>1040</strong>, lines 23 through 26, 28 through 34a, plus any<br />
write-in adjustments you entered on the dotted line next to line 35 ...................... 2.<br />
3. Subtract line 2 from line 1. If the result is more than $80,000 ($160,000 if married filing<br />
jointly), STOP You cannot take the deduction <strong>for</strong> tuition and fees ........................ 3.<br />
4. Tuition and fees deduction. Is the amount on line 3 more than $65,000 ($130,000 if married<br />
filing jointly)?<br />
Yes. Enter the total qualified tuition and fees (defined above) you paid in <strong>2004</strong>. Do not<br />
}<br />
enter more than $2,000. Also, enter this amount on <strong>Form</strong> <strong>1040</strong>, line 27. 4.<br />
No. Enter the total qualified tuition and fees (defined above) you paid in <strong>2004</strong>. Do not<br />
enter more than $4,000. Also, enter this amount on <strong>Form</strong> <strong>1040</strong>, line 27.<br />
Note. Do not include this amount in figuring any other deduction on your return (such as on Schedule A, C, E, etc.).<br />
-29- Need more in<strong>for</strong>mation or <strong>for</strong>ms? See page 7.