Maine Educational Opportunity Tax Credit Worksheet - 2015

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2015 Educational Opportunity Tax Credit Worksheet
for Maine Resident & Part-year Resident Individuals
36 M.R.S. § 5217-D
IMPORTANT NOTE: You cannot use this worksheet if your employer paid part or all of your
education loan payments directly to the lender. See instructions.
Your name: ____________________________________________________
Social security number: __________________
A.
Check the type of degree you received: ___ Bachelor’s ___ Associate’s
Date you graduated: ___/___/_____
B.
College or university from which you obtained the degree: ________________________________________________________
Name of degree as it appears on your diploma: ________________________________________________________________
(example, Bachelor of Science Computer Science)
C. Check here if this is a degree in Science, Technology, Engineering or Mathematics (“STEM”) (see instructions):
_______
1.
Enter the monthly benchmark loan payment (see instructions) ........................................................1. $ _________________
2.
Enter the monthly eligible education loan payment due during your 2015 tax year ........................2. $ _________________
3.
Enter the monthly eligible education loan payment amount you paid during your 2015 tax year ...3. $ _________________
4.
Enter the smallest of lines 1, 2 and 3 ....................................................................................................4. $ _________________
5.
a. Enter the number of months* during the tax year you were a Maine resident ...............................5a.
_________________
b. With respect to the months on line a, enter the number of months* you worked in Maine or
were deployed for military service in the U.S. Armed Forces (see page 2 for a defi nition of
“worked in Maine”) .........................................................................................................................5b.
_________________
c. With respect to the months on line b, enter the number of months* you 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. $ _________________
Note: If all credit hours for your degree were earned after 2007, skip lines 7, 8 and 9 and
enter the amount from line 6 on line 10.
7.
Enter the number of credit hours you earned toward your degree after December 31, 2007 ...............7.
_________________
8.
Enter total number of credit hours you earned toward your degree ..........................................................8.
_________________
9.
Divide line 7 by line 8 .......................................................................................................................... 9.
__ . __ __ __ __
10. If you completed lines 7, 8 and 9, multiply line 6 by 9. Otherwise, enter the amount from line 6 .......10.
_________________
11. Adjustment for transferring students (see instructions) ..................................................................... 11.
__ . __ __
Note: If all credit hours for your degree were earned from a Maine college or university, enter 1.00.
12. a. If line C above is checked, multiply line 10 by line 11 and enter the result here and on
Form 1040ME, Schedule A, line 3. Then go to line 13 ............................................................. 12a. $ _________________
b. If line C above is not checked, multiply line 10 by line 11 and go to line 13 ...............................12b. $ _________________
13. Enter the carryforward of unused credit amount from 2014 ................................................................13. $ _________________
If line C above is checked, enter this amount on Form 1040ME, Schedule A, line 11.
If line C above is not checked, go to line 14 below.
14. If line C above is not checked, add lines 12b and 13 and enter the total here and on
Form 1040ME, Schedule A, line 11 .....................................................................................................14. $ _________________
UNUSED CREDITS ON LINE 12b MAY BE CARRIED FORWARD TO FUTURE TAX YEARS FOR UP TO 10 YEARS - SEE INSTRUCTIONS
Note: If this is the fi rst year you are claiming this credit, you must include a complete copy of your college transcript, proof of the
educational loans that qualify for the credit and proof of the educational loan payments made by you or your employer during the tax year.
Additionally, Maine Revenue Services may request additional documentation supporting your claim in subsequent tax years.
Rev. 12/15

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