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College and Education Tax Tips

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Guide to Tax Form 1098-T: Tuition Statement
Eligible colleges or other post-secondary institutions must send Form 1098-T to any student who paid "qualified educational expenses" in the preceding tax year. Qualified expenses include tuition, any fees that are required for enrollment, and course materials required for a student to be enrolled at or attend an eligible educational institution. Read more…

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…

Video: Top College Tax Deductions and Credits
Watch this video to learn about the top college tax deductions and credits for students and parents. These are six of the most common deductions and credits that eligible students and their parents can use to increase tax savings at the end of the 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…

Can Debt Forgiveness Cause a Student Loan Tax Bomb?
People who benefit from student loan forgiveness may be wondering about the tax consequences of this debt relief option, including a potential "student loan tax bomb." Your student loan repayment choice can prevent or cause this situation. Read more…

More College and Education Articles

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