Alaska Income Tax Education Credit - Alaska Department of Revenue ... 2025

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering your EIN and the name shown on your return at the top of the form. This information is crucial for identification purposes.
  3. In Section A, list the name of the contribution recipient and select the appropriate code from the provided list that corresponds to their category.
  4. For each contribution, fill in columns D and E with amounts that qualify as non-charitable and charitable contributions respectively. Ensure accuracy as this affects your credit calculation.
  5. Calculate total contributions by adding line 2 from both columns D and E, then enter this sum on line 3.
  6. Follow through lines 4 to 9 to compute your tentative credit based on specified limits. Make sure to adhere to the guidelines regarding maximum allowable credits.

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Specifically, the Child Tax Credit was revised in the following ways for 2021: The credit amount was increased for 2021. The American Rescue Plan increased the amount of the Child Tax Credit from $2,000 to $3,600 for qualifying children under age 6, and $3,000 for other qualifying children under age 18.
The AEG is a need-based grant offered by the State of Alaska for undergraduate students who are Alaska residents. The State of Alaska determines your eligibility and award amount based on your FAFSA, your enrollment level, and the date you filed your FAFSA. Awards range from $500$4,000 per year.
The amount of the credit is 100 percent of the first $2,000 of qualified education expenses you paid for each eligible student and 25 percent of the next $2,000 of qualified education expenses you paid for that student.
Generally, you can claim the American Opportunity Credit if all three of the following requirements are met: You pay qualified education expenses of higher education. You pay the education expenses for an eligible student. The eligible student is either yourself, your spouse, or a dependent you claim on your tax return.
The Alaska Education Tax Credit (ETC) program, administered by the Department of Revenue, gives tax credits (50% of the contribution) to third party entities that make charitable donations (of either cash or equipment) for the purpose of education in the state.
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Deduction for Seniors (Sec. 70103) New deduction: Effective for 2025 through 2028, individuals who are age 65 and older may claim an additional deduction of $6,000. This new deduction is in addition to the current additional standard deduction for seniors under existing law.

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