Federal, state, and University scholarship and grant programs are excluded from income, and therefore reduce the amount of qualified tuition and fees for the American Opportunity and Life Time Learning tax credits. Vocational rehabilitation tuition payments also reduce qualified tuition and fees.
The following types of Veteran's benefits reduce the amount of qualified tuition and expenses:
Training and Rehabilitation for Veterans with Service Connected Disabilities (Chapter 31)
Veteran's Educational Assistance Program (VEAP) (Chapter 32)
Vietnam Era G.I. Bill (Chapter 34)
Survivor's and Dependents Educational Assistance (Chapter 35)
Salisbury University is providing this information as a service to its students, but please keep in mind it is not an authority on taxation. Therefore, the University is not responsible for any misrepresentation of the IRS regulations. You should consult a tax advisor to determine if you qualify for the credit or for any other related questions.