every year i get a form from my college. can i claim the tuition as a deduction. i am single and non-dependant.
2007-01-17 22:11:34 · 6 answers · asked by djthommanell 2 in Business & Finance ➔ Taxes ➔ United States
You have a couple of options. You can claim the tuition as a deduction or you may be able to claim a Hope Credit or a Lifetime Learning credit. The credit will give you a greater return. The Hope Credit can only be claimed for the first two years of your education and you must be pursuing an undergraduate degree. The Lifetime Learning credit is available for all years of post-secondary education and you don't have to be in a degree program.
2007-01-18 00:21:09 · answer #1 · answered by anr 3 · 0⤊ 0⤋
You can claim the amount you paid for college tuition as a deduction on your tax returns. Use Form 972 and you have a lot of information reardding the college tuition. If you go to Publication 17 Section 35/ Hope this helps!
2007-01-17 23:39:01 · answer #2 · answered by porselin 2 · 0⤊ 0⤋
You can claim either a deduction or an education credit for your tution. Generally, claiming the credit will get you back more money, you can try it both ways and see which is better for you.
2007-01-18 01:27:11 · answer #3 · answered by growing inside 5 · 0⤊ 0⤋
You're lucky. I'm going to say no, because you aren't exactly a charity that he donated to. It would be like he had invested it somewhere or bought something particularly expensive. I get financial aid but friends who don't have never been able to claim their tuition. Double check though, of course.
2016-05-24 02:48:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋
yeah definitely!.. they deduct/refund you up to 4000 dollars
2007-01-17 23:31:10 · answer #5 · answered by theRAM 2 · 0⤊ 0⤋
yes
2007-01-17 22:19:08 · answer #6 · answered by rolsartom 3 · 0⤊ 0⤋