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My son goes to a private school and I was wondering if the education is tax deductable. Its a Catholic School. I know college can be deducted....

2006-11-12 18:34:31 · 9 answers · asked by Angelus 4 in Business & Finance Taxes United States

He is in Preschool right now

2006-11-12 18:35:07 · update #1

And we are in Nebraska

2006-11-13 04:48:51 · update #2

9 answers

According to Pub 503, "Expenses for a child in nursery school, pre-school, or similar programs for children below the level of kindergarten are expenses for care." So, this year, you may be able to write off the expense as a "Child Care Credit" on your tax return. You (and your spouse if married) have to be working or looking for work or attending college while your child is in preschool in order to qualify. Once your child starts to attend kindergarten, there are no tax write-offs for the next 13 years. When your child starts his/her post-secondary education (college, trade school, etc.), then other credits and deductions kick in (assuming congress doesn't change them in the next 13 years).

If you are a good reader, please read through Publication 503 (attached to the link below) to see if you can take the credit. If you are still confused, you may want to talk to your tax preparer or, if you use software, read the instructions carefully.

For Nebraska, you can get the credit if you are a full or partial-year resident. It can not be claimed if you are a nonresident or if you filed a federal joint return, but a married-separate return for Nebraska.

For individuals reporting federal AGI not greater than $22,000, the credit is refundable and is 100% of the federal credit. For individuals reporting federal AGI over $22,000 but not more than $29,000, the credit is refundable and the amount of the credit ranges from 90% to 30% of the federal credit. The percentage of the federal credit is reduced by 10% for each $1,000 of AGI over $22,000.

For individuals with AGI in excess of $29,000, the credit is nonrefundable and is limited to 25% of the federal credit allowed.

2006-11-13 00:17:55 · answer #1 · answered by TaxMan 5 · 2 0

There aren't any deductions available on the federal return for preschool tuition. If a portion of your son's preschool fees are for daycare, that portion can be used as an expense on Form 2441 (Child Care Credit), assuming that you have your child in day care so you can be employed. If in fact a portion of your fees are considered as childcare, you should receive a statement from the facility stating which portion is tuition and which is daycare.

BTW, my kids are in Catholic school, too, and there aren't any deductions available at the federal level for either tuition, day care or charitable contribution.

2006-11-13 11:42:22 · answer #2 · answered by SuzeY 5 · 0 1

Tuition can be deducted for higher education (post-secondary schools). since your son is in preschool, this is more like child care. If you paid for the care for a qualifying individual so you (and your spouse if you are married) could work, you may be able to claim the credit for child and dependent care expenses.

ive attached a link with more information.

you would attach Form 2441 to your federal tax return.

2006-11-13 07:27:20 · answer #3 · answered by tma 6 · 0 0

My husband and I put our 2 daughters through catholic school K-12. Never were able to deduct on the federal taxes...Lotta $$$$! Good luck! Hope the laws change for you and your family.

2006-11-13 08:42:32 · answer #4 · answered by N0_white_flag 5 · 0 0

Only for classes prior to first grade (as a child care credit if you work). And again as a deduction or credit when they go to college.

2006-11-13 10:01:58 · answer #5 · answered by Anonymous · 0 1

yes it is deductible, but you will not be the one to deduct it. it is the school that will pay that. you do not pay tax on your childs education, infact it is an allowance given to you. It is important for you to know that expences are not deducted but income. so taxes are paid by earners, so the end receiver of your childs school fees (the school) should pay the tax.

2006-11-13 02:41:00 · answer #6 · answered by Nnamsco 3 · 0 2

i'm from canada and tuition fees (for children and adults) are tax deductible.

check out your state's tax rules. a revenue/tax gov't website will have this information spelled out.

2006-11-13 02:36:28 · answer #7 · answered by monkiegirl37 4 · 0 0

depends on what state you live in, check your local laws

2006-11-13 02:36:49 · answer #8 · answered by misterlyle 3 · 0 1

No.

2006-11-13 12:23:47 · answer #9 · answered by Ovrtaxed 4 · 0 2

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