Sunday, January 6, 2008

Nicole, you have two different scenerios.
One you have to claim the earnings and the expenses related to you message therapist business on Sch C as a Sole Proprietor, assuming that you have not incorporated the business. You can claim all expenses related to generating the income.

Second, you can claim the upto $4,000 if married filing joint or $2,000 if single for the tuition fees paid for your qualified education. Since, it is just the beginning of the year, you should expect to receive a 1098 form from your university. You can always request the university to provide you a copy of the 1098, in case you do not receive one in the mail. You would also need to wait until Feb 13th to file your return as the form to claim the education credits will not be approved by the IRS before Feb 13th, 2008.

Good luck and thank you for posting on my blog.

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