Credit For Educational Opportunity Worksheet For Individuals - 2011

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CREDIT FOR EDUCATIONAL OPPORTUNITY
WORKSHEET FOR INDIVIDUALS
FOR TAX YEAR 2011
36 MRSA § 5217-D
TAXPAYER NAME: _____________________________________ SSN: ____________________
Did you receive (check one):
Bachelor’s degree
Associate degree.
Date of graduation: _______________
Did your employer(s) make eligible education loan payments on your behalf during your
2011 tax year? ....................................................................................................................
YES
NO
If yes, complete the following employer information:
EMPLOYER NAME: __________________________________________
EIN: _________________________
If more than one employer, attach a schedule showing information for all employers.
1. Enter the monthly benchmark loan payment amount (see instructions) .............................
1. $ ______________
2. Enter the lesser of the following amounts ............................................................................ 2. $ ______________
a. The monthly amount of eligible education loan payments due during your 2011 tax year,
even if not what was actually paid, and regardless of whether the amount was paid by
you, your employer or someone else ($____________).
b. The monthly eligible education loan payment amount actually paid by you, your
employer(s) and anyone else during your tax year beginning in 2011 ($____________).
3. Enter the lesser of line 1 or line 2 ........................................................................................ 3. $ ______________
4. With respect to that period of the tax year you were a resident of Maine working for an
employer located in Maine, enter the number of months you, your employer and/or
anyone else made eligible education loan payments (see instructions) .........................
4.
______________
5. Multiply line 3 by line 4 ....................................................................................................
5. $ ______________
6. Enter the amount of line 5 paid by your employer(s) or anyone else .................................
6. $ ______________
7. Subtract line 6 from line 5 ...............................................................................................
7. $ ______________
8a. Enter total number of credit hours earned for the degree after December 31, 2007 ..........
8a.
______________
8b. Enter total number of credit hours earned for the degree .............................................
8b.
______________
.
8c. Divide line 8a by line 8b ................................................................................................
8c.
__
__ __ __ __
9. Current year credit amount. Multiply line 7 by line 8c. ..................................................
9.
______________
10. Carryforward of unused credit amount from 2010 ...........................................................
10 .
______________
11. Total credit available (line 9 plus line 10). Enter the result here and on Form 1040ME,
Schedule A, line 10 .........................................................................................................
11.
______________
12. Carryforward to 2012 (see instructions) ..........................................................................
12. $ ______________
IMPORTANT
Maine Revenue Services may request supporting documentation, including, but not limited to, the following: degree
received; date of degree; academic credit hours earned for the degree prior to January 1, 2008 and after December
31, 2007; the institution(s) from which the degree was earned; the educational loans that qualify for the credit; the edu-
cational loan payments made by you or your employer during the tax year that qualify for the credit.
Rev. 12/11

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