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WE ARE CONFUSING ABOUT ON WHICH LINE WE CAN CLAME THE $4000 DEDUCTIO FOR TUITION FEE. PLEASE GIVE ME LET ME KNOW, THANKS A LOT!

SHING

2007-03-10 02:12:54 · 2 answers · asked by Shing 1 in Business & Finance Taxes United States

2 answers

Taxpayers must file Form 1040 (PDF) to take this deduction for up to $4,000 of tuition and fees paid to a post-secondary institution. It cannot be claimed on Form 1040A.
The deduction for tuition and fees will be claimed on Form 1040, line 35, "Domestic production activities deduction." Enter "T" on the dotted line 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

http://www.irs.gov/taxtopics/tc302.html

2007-03-10 02:16:34 · answer #1 · answered by Anonymous · 3 0

Rob is correct. why on that line you might ask? because when the forms went to press our good ole government had not yet voted to extend the tuition and fees deduction, so there was no line for it as in previous years. It was voted on and extended late in the year, as is needed every year, so WRITE YOUR CONGRESSPERSON TO VOTE "YES" FOR IT EVERY YEAR.

2007-03-10 10:35:06 · answer #2 · answered by RichManPoorMan 2 · 1 0

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