Can someone PRETTY please explain to me in idiot's terms what the difference between the Hope credit and the Lifetime Learning Credit????
Calling the IRS number (i can hear you laughing NOW lol) was about as helpful as sitting on my fists, and i don't know if it's the fatigue, workload, or the cadiovascular disorder terms burning in my brain, but i CANNOT read the info in the book or the webpage and figure it out!!!
Feb 25, '04
Quote from LPN2Be2004
See, from what i gathered, the deduction for the LLC is 20% of the first 10,000. Mine wasn't even 5,000 though. I just can't understand how to fill out the form, or whether i'm filling it out fo the Hope or the LLC. Wonder if a program like Turbo Tax makes things like this easier?
Turbotax walks you through the whole thing. It's an awesome program, we've been using it the last three years. There always seems to be a rebate that comes along with the program too so you can get it for next to nothing. I was thinking that we use the Hope credit but we must be using the LLC because we've been in school for more than 2 years. HTH!
Last edit by JENRN2BMICHIGAN on Feb 25, '04