IDK Wednesday: April 15th

Hey, yo, buddies!

So, Monday I gave you a short list on how to do your taxes. Here’s a few questions that you may have and an opportunity to ask me for help!

1. Don’t forget to find you 1098-T (your school should have sent you one, if they didn’t call and ask for one to be mailed) if you were a student in 2012. This form tells you how much the school gave you in scholarships/grants and how much you paid them out of pocket–not with loans! Your loans aren’t taxable, don’t worry. Some of your grants/scholarships may be. For instance, if you paid for housing with scholarship money, that’s technically taxable.

2. If you have a kid and didn’t make a bunch of money, you may qualify for the Earned Income Tax Credit. Credit means they give you money as an apology for your hard life.

3. If you had any medical bills that you had to pay out of pocket, add that up. It’s a deductible. Win.

Have more in-depth questions? Send ’em in!


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