is there a tuition deduction on my federal tax 1040 form?

Answer 1

Yes there is. Congress changed their mind at the last minute and allowed the deduction.

To claim it, enter the amount (up to $4000 per tax return) on line 35 of form 1040 "Domestic Production Activities Deduction" just like you would have done it last year on the "Tuition and Fees Deduction" line, except you need to write the letter “T” on the line and enter the eligible amount.

The attached web link explains this perfectly clearly. Good luck.

Oh, and by the way, don't forget to consider the Hope and Lifetime Learning Credits. Take whichever gives you the greatest refund (assuming you qualify for each).

The answer Skip mentioned above where you put an "E" is for educator expenses. If you are a teacher, you can write off $250 "above the line".

Answer 2

Yes you can deducted upto $4,000
Here is what is says on the IRS Web Site
Higher Education Tuition and Fees Deduction:
The deduction for tuition and fees can be claimed on Form 1040, line 35, “Domestic production activities deduction.” Enter "T" in the space to the left of that line entry if claiming the tuition and fees deduction, or "B" if claiming both a deduction for domestic production activities and the deduction for tuition and fees. For those entering "B," taxpayers must attach a breakdown showing the amounts claimed for each deduction.

If you need more information go to this website

Answer 3

Not any more. They printed the forms before Congress extended that deduction. So now you put it on the same line as Archer MSA. Mark an E at the side (on the dotted line) or a B if you are claiming both Archer and Education deductions. Alternatively, do it online, but remember you cannot file electronically until February 3rd. The IRS computers won't have caught up with the renewed legikslation until then. Returns filed on paper will not be processed until that date either.

Answer 4

Yes. The school you attended will send you a form with the tuition you paid on it.

Answer 5

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