* Updated 2023 *

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Overview

This course will examine the programs, credits, deductions and federal income tax treatment of various items that affect saving for and financing an individual’s education. In so doing, it will consider:

  • Qualified tuition programs;
  • Coverdell education savings accounts;
  • The education savings bond program;
  • Federal tax credits for education;
  • The federal tax treatment of scholarships, fellowships, grants and tuition reductions; and
  • Deductions available for student loan interest.

CPE Acceptance

 

CPE Course For:

CPAs in most states (chart)
Other Professionals (chart)
 AFSP
 EA
 Tax Preparer

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Online Course Materials

Fully online PDF materials included in course.

Login to your course to read online / print / save to local drive

Materials include:

  • Clickable table of contents
  • Learning objectives--each section
  • Review questions--each section
  • Answers to review questions + explanations
  • Glossary of terms used
  • Worksheets, forms and examples
  • Index with page numbers

* Fully searchable *

Details

Fun CPE Course #: PWX0323
Materials: Online materials
Format: Interactive self-study
Subject: Federal Tax
Exam questions:  Final-40 multiple choice
Document length:  86 pages
Passing score: 70% | Unlimited retakes
Prerequisites: None
Advance prep: None
Course level: Overview
Last reviewed/updated: 01/01/23
Expiration: One year from enrollment

Learning objectives

Upon completion of this course, you should be able to:

  • Identify the features and tax benefits of qualified tuition programs available under IRC §529;
  • Recognize the limits and tax treatment of contributions to and distributions from a Coverdell education savings account (ESA);
  • Identify the tax treatment of interest earned under qualified U.S. savings bonds used to pay certain education expenses;
  • Apply the American opportunity and lifetime learning credit rules;
  • Recognize the tax treatment given to scholarships, fellowships and other types of educational assistance; and
  • Apply the federal income tax rules applicable to student loan interest, payment of tuition and fees, and student loan cancellations and repayment assistance.
  • Understand changes resulting from the SECURE Act of 2019
  • Includes the TRA 2020 extended CARES Act provision excluding employer-provided student loan assistance through 2025.