Credit For Educational Opportunity Worksheet For Maine Resident & Part-Year Resident Individuals

2013 CREDIT FOR EDUCATIONAL OPPORTUNITY WORKSHEET FOR MAINE

RESIDENT & PART-YEAR RESIDENT INDIVIDUALS ONLY 36 M.R.S.A. § 5217-D

NOTE: Use this worksheet only if your employer paid part of your education loan payments directly to the lender.

If your employer paid all of your education loan payments directly to the lender, you do not qualify for this credit.

Your name: ________________________________________________________ Social security number: __________________

A. Check the type of degree you received: ___ Bachelor’s ___ Associate

Date you graduated: ___/___/_____

B. College or university from which you obtained the degree: _______________________________________________________________

Name of degree as it appears on your diploma: ________________________________________________________________________

C. Check here if this is a degree in Science, Technology, Engineering and Mathematics ("STEM") (see instructions):

_____

D. If your employer made eligible education loan payments for you during your 2013 tax year, complete the following:

Employer Name: ___________________________________________

EIN: ____________________________

1. Enter the monthly benchmark loan payment (see instructions) ..................................................................... 1. $ _________________

2. Enter the monthly eligible education loan payment due during your 2013 tax year .................................... 2. $ _________________

3. Enter the monthly eligible education loan payment amount paid by you and your employer during your 2013 tax year. 3. $ __________________

4. Enter the smallest of lines 1, 2 and 3 ................................................................................................................. 4. $ _________________

5. a. Enter the number of months * during your tax year you were a Maine resident ............................................ 5a.

_________________

b. With respect to the months on line a, enter the number of months * you worked for an employer

located in Maine or were deployed for military service in the U.S. Armed Forces ......................................... 5b.

_________________

c. With respect to the months on line b, enter the number of months * you and your employer made eligible

education loan payments .............................................................................................................................. 5c.

_________________

* Count any part of a month as a whole month.

6. Gross Credit. Multiply line 4 by line 5c ............................................................................................................. 6. $ _________________

directly to the lender

7. a. Enter the eligible education loan amount you paid

during your tax year,

excluding any amount exceeding the amount due .................................................................................

7a. $ _________________

b. Enter the total eligible education loan amount paid during your tax year paid by you and your

employer, excluding any amount exceeding the amount due ...................................................................

7b. $ _________________

c. Divide line 7a by line 7b and enter the result here………………………… .................................................

7c.

__ . __ __ __ __

8. Modiﬁ ed gross credit. Multiply line 6 by line 7c .................................................................................................. 8. $ _________________

Note: If all credit hours for your degree were earned after 2007, skip lines 9, 10 and 11 and enter the amount from line 8 on line 12.

9. Enter the number of credit hours you earned toward your degree after December 31, 2007 ........................

_________________

10. Enter the total number of credit hours you earned toward your degree .........................................................

10.

_________________

11. Divide line 9 by line 10 ..................................................................................................................................

11.

__ . __ __ __ __

12. If you completed lines 9, 10 and 11, multiply line 8 by line 11. Otherwise, enter the amount from line 8 ....... 12. $ _________________

13. Adjustment for transferring students (see instructions) .................................................................................

13.

__ . __ __

Note: If all credit hours were earned at a Maine college or university, enter 1.00.

14. a. If line C above is checked, multiply line 12 by line 13 and enter the result here and on Form 1040ME,

Schedule A, line 3. Then go to line 15 ...................................................................................................... 14a. $ _________________

b. If line C above is not checked, multiply line 12 by line 13 and go to line 15 ............................................. 14b. $ _________________

15. Enter the carryforward of unused credit amount from 2012 ..........................................................................

15. $ _________________

If line C above is checked, enter this amount on Form 1040ME, Schedule A, line 10. If line C above is not checked, go to line 16 below.

16. If line C above is not checked, add lines 14b and 15 and enter the total here and on Form 1040ME,

Schedule A, line 10 ........................................................................................................................................

16. $ _________________

Unused credit amounts on line 14b may be carried forward to future tax years for up to 10 years. See instructions.

IMPORTANT - Maine Revenue Services may request supporting documentation, including, but not limited to, the following: copy of college transcript,

Rev. 2/14