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    r7webb's Avatar
    r7webb Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Jan 7, 2008, 08:32 AM
    Tax deduction for Masters Degree
    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!
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jan 7, 2008, 11:59 AM
    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.
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