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Cancellation of Loan. Publication 970 Important Changes There are many new tax benefits for persons who are saving for or paying higher education costs for themselves and members of their families or who are repaying student loans. Most of these benefits first become available in 1998. The new benefits include tax credits individual retirement account options and a deduction for student loan interest. Rev. December 1998 Education Tax Credits. Rul...
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What is publication 970 form?
Publication 970 is a form issued by the Internal Revenue Service (IRS) that provides information on tax benefits for education expenses.
Who is required to file publication 970 form?
Individuals who have education expenses and want to claim tax benefits for those expenses are required to file Publication 970 form.
How to fill out publication 970 form?
To fill out Publication 970 form, you need to provide information about your educational expenses and calculate any qualified tax benefits you may be eligible for. Follow the instructions provided by the IRS to accurately complete the form.
What is the purpose of publication 970 form?
The purpose of Publication 970 form is to help individuals understand and claim tax benefits related to education expenses, such as the American Opportunity Credit or the Lifetime Learning Credit.
What information must be reported on publication 970 form?
Publication 970 form requires reporting of various information, including the amount of qualified education expenses paid, any scholarships or grants received, and certain personal information.
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