College and Education Tax Tips

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Video: Guide to IRS Form 1098-T Tuition Statement
If you have education-related expenses, you may be eligible for an education credit or deduction. Watch this video to learn more about Form 1098-T Tuition Statement and qualifying education expenses. 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. Read more…

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 the student was required to buy from the school. Read more…

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…

What is a 1098-E: Student Loan Interest
If you're currently paying off a student loan, you may get Form 1098-E in the mail from each of your lenders. Your lenders have to report how much interest you pay annually. Student loan interest can be deductible on federal tax returns, but receiving a 1098-E doesn't always mean you're eligible to take the deduction. Read more…


More College and Education Articles

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

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