Education Benefits for Tax Year 2012
Our tax system offers a number of tax breaks to encourage individuals to obtain higher education.
- Education credits, which reduce your tax bill or can increase your refund dollar for dollar.
- Education deductions, which lower your taxable income, and thereby reduce your taxes.
Credits available for 2012 include:
Education deductions for 2012 include:
These tax breaks have different qualifications and benefits.
So, how do you decide which is best for you?
Don’t worry about complicated calculations. TurboTax figures out the best alternative for you.