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Video: What Educational Expenses Are Tax Deductible?
Are you a student in an educational institution, or do you claim one? The federal government supports higher education, offering many deductions on education-related taxes. Watch this video to find out more about education expenses and deductions. Note: Unless extended, the tuition and fees deduction ends with the 2019 tax year. Read more…

Taxes for Grads: Do Scholarships Count as Taxable Income?
Heading off to college to broaden your horizons is exciting, but funding your education via scholarships? That's even better. Scholarships often provide a path to education that might not be feasible otherwise, which is why the Internal Revenue Service (IRS) can be generous in minimizing students' tax obligations. But sometimes scholarship money does count as income, and it’s better to find out now if your scholarship adds to your tax liability than to have a surprise later. Here’s how to decode your scholarship taxation. Read more…

What is the Educator Expense Tax Deduction?
The Educator Expense Tax Deduction allows teachers and certain academic administrators to deduct a portion of the costs of technology, supplies, and certain training. Here’s what teachers need to know about taking the Educator Expense Deduction on their tax returns. Read more…

Do You Have to Claim Pell Grant Money on Your Taxes?
The IRS treats a Pell grant as a scholarship, which means it's possible that you'll have to report the grant money on your tax return and maybe even pay income tax on the money. Read more…

Deduction for Higher Education
The Tuition and Fees Deduction was extended through the end of 2019. It allows you to deduct up to $4,000 from your income for qualifying tuition expenses paid for you, your spouse, or your dependents. Read more…


More College and Education Articles

How to Calculate Your Lifetime Learning Tax Credit on IRS Form 8863 Guide to Tax Form 1098-T: Tuition Statement Video: Tax Tips for Teachers Take Advantage of Two Education Tax Credits Are Contributions to School District Programs Tax Deductible? Are College Entrance Exams Tax Deductible? What Is IRS Form 8917? About Student Loan Tax Deductions and Education Credits Tax Tips for Teachers: Deducting Out-of-Pocket Classroom Expenses Sending Kids to College Are Contributions to Nonprofit Schools Tax Deductible? Guide to IRS Form 1099-Q: Payments from Qualified Education Programs Learn About the New College Tax Credit The Lowdown on Education Tax Breaks Video: Guide to IRS Form 1098-T Tuition Statement Video: What Is the Lifetime Learning Tax Credit? What is a 1098-E: Student Loan Interest Tax Tips When Sending Kids to Private or Public Schools How to Report FAFSA College Money on a Federal Tax Return Tax Deductions for Voluntary Interest Payments on Student Loans What Are Education Tax Credits? What is IRS Form 1099-Q? What Is the Lifetime Learning Tax Credit? Tax Tips for New College Graduates Video: Top College Tax Deductions and Credits Can I Deduct My Computer for School on Taxes? Cash for College: Tax-Free 529 Plans Video: Tax Tips for Students Bigger, Better College Tax Credit Video: What Is a 529 Plan Contribution? Information on 529 Plans What is Form 1098-E: Student Loan Interest Statement? What Is the IRS Form 8863? What Is the American Opportunity Tax Credit?

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