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Category: Education Credits/deductions
5 Articles
Orange arrow How do I claim Tax-Free Educational Assistance and Refunds of Qualified Expenses?

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  Tax-free educational assistance includes a tax-free scholarship, Pell Grant, or tax-free employer-provided educational assistance. You must reduce the total of your qualified expenses by any tax-free educational assistance and by any refunds of qualified expenses. If the refund or tax-free assista...
Orange arrow Should I take a credit or an adjustment for my tuition and fees?

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  Tax credits, deductions and savings plans can help taxpayers with their expenses for higher education. A tax credit reduces the amount of income tax you may have to pay. A deduction reduces the amount of your income that is subject to tax, thus generally reducing the amount of tax you may have ...
Orange arrow What are qualifying expenses for Education Credits?

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  Rules That Apply to Both CreditsWhat Expenses Qualify?Generally, qualified expenses are amounts paid during the tax year for tuition and fees required for the student's enrollment or attendance at an eligible educational institution. It does not matter whether the expenses were paid in cash, by che...
Orange arrow Tuition and Fees

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  Deduction extended. The tuition and fees deduction is extended for qualified tuition and fees paid in calendar years 2018, 2019, and 2020. Don’t claim the deduction for expenses paid after 2020 unless the credit is extended again. Use Form 8917 (Rev. January 2020) and these instructions for y...
Orange arrow What is Form 8917 Used For?

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  Deduction extended. The tuition and fees deduction is extended for qualified tuition and fees paid in calendar years 2018, 2019, and 2020. Don’t claim the deduction for expenses paid after 2020 unless the credit is extended again. Use Form 8917 (Rev. January 2020) and these instructions for y...

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