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How do I file tuition money on my taxes?

Will I still get a stimulus check if I didn't file my taxes in 07 or 08, I'm going to do it this week?

  • Long story short, I didn't file my taxes for the 07 or 08 years. Reason being, I filed exempt from federal tax (because of college) not realizing I made more than 8,500 in those years, so I figured I would end up owing money (I made about 20k each year). So now I'm going to file all my back returns, I do have the life time learning credit on my side (I've paid mess loads of tuition on those years) so I won't have to pay them anything regardless. My question, when I file, am I still entilted to a stimulus check, I'm not sure if they sent them out in 07 or 08 or both years? Another question, although I filed exempt from federal tax the requirement that you must pay tax has no bearing on my situation correct? I'm still liable for the tax just as if I wasn't exempt and I did still pay full values on all other taxes than federal withholding. To recap, when I file am I still eligible for stimulus checks, I did earn nearly 20k on both years but I was exempt from federal withholding. I mainly want to know if I'm entitled to stimulus checks and if my exemption from federal witholding on those years would disqualify me?

  • Answer:

    no - you had to file on time to get those checks how could you NOT realize you were making more than $165/wk? you WERE NOT "EXEMPT" from anything if you made 20,000 a yr - you will owe 25% penalty, plus interest ON TOP of the taxes IF you owe taxes for those years just because you filled out a W-4 as exempt, doesn't mean anything when it comes time to actually doing you tax return. all that does is tell your employer to NOT withhold federal income tax

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You should be able to claim the stimulus check on your 2008 tax return, but it is listed "RECOVERY REBATE". It is a good thing that you are filing your tax returns, because if you don't IRS will begin sending letters, letting you know that if you don't file they will, and it is never a good idea to let IRS file for you, you will always owe if IRS files. Good luck, view the 2008 tax form 1040' 1040A whichever is appropriate for your filing and check the second page you will see the recovery rebate section. Either way IRS would figure it out and give you the amount you qualify for.

You should not have filed as exempt. You were NOT exempt, and it is illegal to claim so if you aren't. You might possibly get away with saying you didn't know you had a tax obligation the first year, but you CERTAINLY should have realized it the second year. You may have to pay a penalty for falsely claiming exempt, along with the taxes and interest that you owe. Since you didn't have anything withheld from your paychecks in either year, you will NOT be getting any kind of refund. You will OWE taxes, even after you take into account the lifetime learning credit. Any stimulus you might have been entitled to will probably be eaten up by the amount of taxes, interest, and penalties you are going to have to pay.

the stimulus was in 2007 on timely filed returns, and you do not qualify the only thing in 2008 re: stimulus was a 'make up' if the taxpayer didn't receive the correct amount in 2007

1. No, you missed the boat 2. Listing yourself as exempt doesn't mean you are. at an income level of 20K, you owe taxes, which means now you owe interest.

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