college network & new tax credit.

Nursing Students Online Learning

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Hi, Everyone

I'm filling my taxes and would like to take advantage of the new education tax credits. However, I pay X amt of dollars each month to College network. Do any of you Know if I can get the tax credit for this since it applies to taking Excelsior test vs traditional tuition & is this the legal equivalent to tuition?

Thanks:cool:

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The College Network is a publishing company. You are making monthly payments to purchase study aids. This is not tuition. You pay the equivalent of "tuition" to Excelsior College in the form of fees. You will get accurate feedback from the business office at Excelsior, regarding the tax status of your payments to Excelsior.

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Specializes in LTC.

I would get some help, like a CPA.

This is something that they would know.

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Specializes in Med Surg.

Supposedly, if you are eligible for the tax credit, the institution is required to send you a form. I think it's a 1099-something. It will tell you how much of what you have paid is eligible for the credit. They also report this info to the IRS. You need to consult a tax accountant or attorney to find out for sure.

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Specializes in 5yrs LPN , 2 yrs CNA.

i tried to use it last year as a school tax credit and my cpa said nope. stated like the above poster, that if it was eligable you would get a form from the school...maybe a 1099? sorry...we were duped by the tcn

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God!!!!!! that TCN, once you seat down with them and sign for thier contract, you screwed!!!!!!!!!!!!, this is ridiculous, they make us spend so much money, do direct deposit for nothing. I call them and tell them that I did not pass my test so I want to withdraw from the program and go to an in school program, they say nope!!!!, I still have to keep paying every Month, this is not fair, because there is no way that someone drop school and still continue to pay even though he or she is not in school, I regret it!!!!!, I discover this website too late, if it was for you guys, I would not be feeling this way..., now I have to see how more effort to put in to pass those tests.

So sad:crying2::crying2::crying2::crying2::crying2:

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Specializes in med/surg, telemetery, gerentology.

I claimed it on my taxes for the past 2 years as textbooks.

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Specializes in PD,Nxstage,hemo.

Yup, me too.

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Specializes in LTC, Family Practice, Meg/Surg.

I, too used the College Network for a tax credit last year. Just try, you never know :)

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Specializes in Emergency, Case Management, Informatics.

Hope ya don't get audited. Cross your fingers for the next five years.

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Keep your TCN contract to present in case of an IRS audit.

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Specializes in pulm/cardiology pcu, surgical onc.

I couldn't write off squat as I made too much according to my states tax laws:(

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