Can we deduct tuition expenses for private school for my son?

Question

We are sending our son to a private high school. He will have to board there. The cost will be about $24,000 per year and we will have to take out loans to pay for it. We live in Virginia (and the school is also in Virginia).
Can we deduct the tuition we pay?
Can we deduct his "room and board" fees?
Can we deduct the interest on these loans (if they are properly identified as K-12 student loans)?

Answer 1

The two education credits, the Hope Scholarship Credit, and Lifetime Learning Credit, is only applicable for higher education expenses, that is college or graduate school.

The two deductions, for interest on student loans, and the qualifying tuition and related expenses deductions, are also only for higher education as well.

So, there are no tax benefits you can claim for sending your son to a private high school. If you had planned for it years ago, you could have contributed to a 529 plan for your child. The money in the plan could have been used to pay for private schools below college level.

Answer 2

No you can only deduct expenses if it is a higher education above 12th grade.

That is an interesting point. I wonder if there is something we can do so a law can be passed to allow private school tuition to be deductible. I'm worried about my son going to a public school. All of the violence and school shootings going on these days, private schools should be an alternative Most people just can't afford it.

Answer 3

I don't know, but when we sent our daughter to Pre-school at our church, the tuition for that was tax deductable. Check with your tax agent.

Answer 4

I DON'T THINK SO, BUT CHECK WITH YOUR TAX MAN.

Answer 5

No.....to all of the above.

Answer 6

no