TaxAudit Blog

Tag: education

College Application

There is no tax benefit for applying to enter a college. However, many benefits are available when your application has been accepted and after you enroll.

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school book with graduation hat and jar of coins on it

With all the required tuition, books, and fees for college students, not to mention the cost of room and board - what education expenses are tax deductible?

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College student moving into housing

Under some circumstances, you can indeed deduct off-campus housing on your taxes while attending college – but the amount of the benefit is limited.

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Bags of money and stacked coins with a graduation hat

The short answer is yes, you can deduct education expenses for your dependents, but some limitations and qualifications must be met. Let's explore more.

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School Supplies

Yes, you can deduct educator expenses if you are what the IRS calls an “eligible educator.” However, there are certain limitations and conditions involved.

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Kindergarten class

Kindergarten tuition is not deductible because the costs to attend are considered educational expenses. However, qualifying childcare expenses are deductible.

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Stack of books, graduation hat, and rolled up diploma

There are some tax-saving opportunities available for graduate school tuition, like the credits for undergraduate expenses. They each have some limitations.

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Graduation Hat

You asked if you could deduct tuition expenses for enrollment in a graduate degree program as a job-related education expense on federal and NY state taxes.

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Instructor teaching students

Depending on the nature of the education, there may be an avenue to account for work related education expenses on one's tax return.

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Money with a graduation hat laying on top

Paying for college tuition is an expensive endeavor. Fortunately for those who qualify, there are some tax breaks available.

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student loans

Yes, you can deduct student loan interest on your tax return if you meet the specific requirements to claim this deduction. The amount you can claim will vary.

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Graduation Hats

For the American Opportunity Credit, a student is required to be in pursuit of a degree or recognized education credential and be enrolled at least half-time

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books

Are Education Tax Credits Available When the Education Expenses are Covered by a Scholarship or Grant?

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woman helping taxpayer with taxes

The IRS opened up its LITC grant application process for organizations looking to serve and educate low-income taxpayers.

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Students wearing graduation hats

With the costs of obtaining a Master of Business Administration skyrocketing - often costing up to $80,000 - you might be wondering: is my MBA tax deductible?

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