College Tuition Tax Deduction
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College Tuition Tax Deduction
April 2012
I am wondering what the tax breaks are for paying college tuition.
How much in tuition payments and how much of a reduction in taxes
paid. Thanks for any info. mirsun
Go online to www.irs.gov and read Publication 970 which discusses the credits or
deductions that you may be able to take. It really depends on your family's income
whether or not you can take an education tax credit, a tuition deduction, or
neither. So check it out!
Anonymous
Dec 2011
We're trying to figure out the tax deduction/tax credit for
college expenses. If someone has recently dealt with this, and
would be willing to explain it, it would be much appreciated.
Firt-time college mom
Google 1098-T. This is the Tuition Statement that the college will
send you that you will use to calculate the education tax credits.
The college sends the same figures to the government. Just refer to
the figures on the 1098-T as you complete your taxes and it won't be
difficult.
anon
this page was last updated: Aug 11, 2012
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