Education Expense?
 
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Education Expense?

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(@stevejames)
Active Member
Joined: 4 months ago
Posts: 6
Topic starter  

Hi team, really enjoying this product!

I have a question...it may be a stretch based on your target market...I am taking a lot of classes in retirement.

Would it be possible to have an 'education' section in Expenses with support for the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC) tax credits?


   
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(@smatthews51)
Member Admin
Joined: 4 years ago
Posts: 1015
 

@stevejames I see that you are a Pralana Online user but this question is in the forum section relating to PRC (Excel). We will definitely not be making that type of enhancement to PRC but it's a possibility for Pralana Online, though I'd give it a low priority. I'm moving this post to the Pralana Online section of the Pralana Forum.

Stuart


   
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(@abq-goldgmail-com)
Trusted Member
Joined: 8 months ago
Posts: 41
 

@stevejames

Once you get familiar with Pralana (or any financial planning software, for that matter), you will notice the properties that the already built-in types of incomes and expenses have, and then use them where appropriate for your unpackaged items. A tax credit event strikes me as similar to a tax free windfall.

You might also be able to report it as a negative one time expense


   
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(@stevejames)
Active Member
Joined: 4 months ago
Posts: 6
Topic starter  

@abq-goldgmail-com thank you, I put it in a tax free windfall under income. Good idea!


   
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