College and Education Tax Tips

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How to Calculate Your Lifetime Learning Tax Credit on IRS Form 8863
Tax credits like the Lifetime Learning Tax Credit (LLTC) provide a dollar-for-dollar reduction of your taxes owed, rather than the reduction in your taxable income that is offered by a deduction. You must qualify according to Internal Revenue Service criteria before you can claim the LLTC. Read more…

The Lowdown on Education Tax Breaks
College is more expensive than ever, but credits and deductions can help you cut thousands off your 2018 tax bill. Read more…

What Is the Lifetime Learning Tax Credit?
With the rising cost of higher education, many taxpayers wonder how they can offset some of their school expenses. One option is to claim the Lifetime Learning credit on your federal income tax return. This credit reduces your tax bill on a dollar-for-dollar basis for a portion of the tuition, fees and other qualifying expenses you pay for yourself, a spouse or a dependent to enroll in school. Read more…

Are Contributions to Nonprofit Schools Tax Deductible?
Taxpayers are allowed to claim a deduction for donations they make to qualified organizations. Read more…

Tax Tips for Teachers: Deducting Out-of-Pocket Classroom Expenses
When it comes to making sure students have the tools for successful learning, school teachers commonly dip into their own pockets to pay for classroom materials. Fortunately, the Educator Expense Tax Deduction can offer teachers some financial relief. Read more…

More College and Education Articles

Tax Tips When Sending Kids to Private or Public Schools Bigger, Better College Tax Credit What is a 1098-E: Student Loan Interest Cash for College: Tax-Free 529 Plans Tax Tips for New College Graduates Video: Top College Tax Deductions and Credits What is Form 1098-E: Student Loan Interest Statement? Taxes for Grads: Do Scholarships Count as Taxable Income? What is the Educator Expense Tax Deduction? Tax Deductions for Voluntary Interest Payments on Student Loans Video: Guide to IRS Form 1098-T Tuition Statement Can Debt Forgiveness Cause a Student Loan Tax Bomb? What Is the IRS Form 8863? Information on 529 Plans Video: What Is a 529 Plan Contribution? Video: Tax Tips for Students Can I Deduct My Computer for School on Taxes? Are Contributions to School District Programs Tax Deductible? Sending Kids to College What Are Education Tax Credits? Video: What Is the Lifetime Learning Tax Credit? What Is the American Opportunity Tax Credit? Guide to IRS Form 1099-Q: Payments from Qualified Education Programs Learn About the New College Tax Credit About Student Loan Tax Deductions and Education Credits What Is IRS Form 8917? Are College Entrance Exams Tax Deductible? Guide to Tax Form 1098-T: Tuition Statement Deduction for Higher Education What is IRS Form 1099-Q? How to Report FAFSA College Money on a Federal Tax Return Video: Tax Tips for Teachers Do You Have to Claim Pell Grant Money on Your Taxes? Video: What Educational Expenses Are Tax Deductible? Take Advantage of Two Education Tax Credits

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