Tax deductibles for students? What else is tax deductible?
2007-01-15 15:27:48 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
There are eduation tax credits that you can probably take for tuition and fees, and certain other very limited expenses. The Hope credit is available for the first two years of post-secondary education, and the Lifetime Learning Credit after that.
Other than that, there's no special breaks for students. The responder who said you should get everything back is not necessarily correct - it depends among other things on how much you make. The responder who said that basically all your living expenses are deductible is just plain wrong.
2007-01-15 17:17:14 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Basically everything is deductible, your living expenses such as rent, food, car. Plus there is the Life and Hope credits. Check into those.
2007-01-16 00:08:07 · answer #2 · answered by Michael C 3 · 0⤊ 1⤋
If you are a full time student you should be getting evrything back.
2007-01-15 23:31:55 · answer #3 · answered by 0111450 4 · 0⤊ 1⤋