Hi,
I reside in California and am working full time and going to school part-time.
Can I claim the money that I pay as my Tuition fees on my taxes i.e. Can I use the money to reduce my tax bracket?
Thanks...
![]() |
Hi,
I reside in California and am working full time and going to school part-time.
Can I claim the money that I pay as my Tuition fees on my taxes i.e. Can I use the money to reduce my tax bracket?
Thanks...
Virtually any type of higher education is eligible for the Lifetime Learning Credit or the tuition deduction, which can be claimed on Form 1040 as an adjustment to income.
Depending on what year of college you are in, you may be eligible for the Hope Educational Credit or the Lifetime Educational Credit. Sometimes it is better, depending on income, to claim the tuition as a deduction rather than credit. I usually figure it all three ways for a taxpayer. (Actually my tax program figures it automatically and chooses the best way) Here is the IRS web page concerning tuition and credits.
Publication 970 (2006), Tax Benefits for Education
No. Educational expenses are not deductible.
Cianci:Quote:
Originally Posted by s_cianci
On what basis do you make this claim?
| All times are GMT -7. The time now is 09:06 AM. |