I am married and now I am a full time student. I do not work, but my husband works full time. Will there be any tax breaks for us?
2007-12-03 11:41:50 · 3 answers · asked by Sheena 1 in Business & Finance ➔ Taxes ➔ United States
Maybe, depending on income and your specific circumstances. See Publication 970 on the IRS website. (link below). In addition to the marriage bonus, it appears that you may be eligible for the lifetime learning credit, the hope credit, or the tuition and fees deduction.
2007-12-03 11:49:19 · answer #1 · answered by ? 6 · 1⤊ 0⤋
You will most likely be able to take a tax credit for a portion of your tuition and fees.
2007-12-03 12:18:31 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Yes, if you file as Married Filing Jointly your total deductions are $17,500 (if you don't itemize). For a Single the deductions are $8,750.
2007-12-03 18:47:13 · answer #3 · answered by MukatA 6 · 0⤊ 0⤋