Hi,

My daughter (27 yrs old) is going back to school for a masters degree. I'm helping her with tuition, would this money be considered a tax deduction? Thanks!

It's a tax deduction (up to $4,000 on the first page of Form 1040) or a Lifetime Learning Credit, but FOR HER, not for you!

She is too old for you to claim a dependent if she earned over $3,400 in 2007.