What are some educational tax write-offs?

Answer by  flamiss22 (5081)

You can write off extra fees in addition to your tuition, if you are enrolled in work study and has to buy materials, uniforms or equipment

Answer by  cgroverla (516)

A taxpayer who pays for higher education for himself, spouse, or a dependent may take a deduction for tuition and fees of up to $4,000. Other tax benefits are a 20% credit on expenses up to $10,000, or the American Opportunity Credit for the first four years of college.

Answer by  patti (29325)

Tuition payments for education required by your employment or profession, as well as equipment and textbooks, are deductible. Tuition payments for dependents are not deductible.

Answer by  Duncan (1124)

One of the biggest tax write-offs for eduction is the ability to deduct interest on student loans. A student with a large outstanding loan can deduct thousands.