Question: Can I Deduct Education Expenses In 2018?

Can you deduct tuition in 2018?

The Tuition and Fees Deduction

The deduction for tuition and fees is not available for the 2018 tax year.

Those are the taxes you file in early 2019.

If your modified adjusted gross income is above $80,000 (or above $160,000 for joint filers), you can’t qualify for the deduction.29 Jan 2019

What college expenses are tax deductible 2018?

American Opportunity Tax Credit and Lifetime Learning Credit

For 2018, you can claim the American Opportunity Tax Credit of up to $2,500 if your student is in his or her first four years of college and your income doesn’t exceed $160,000 if you are married filing a joint return ($80,000 for single taxpayers).

What education expenses are tax deductible?

Distributions are tax-free as long as they are used for qualified education expenses, such as tuition and fees, required books, supplies and equipment and qualified expenses for room and board.

What education expenses are tax deductible 2019?

The tax credit limit is $2,500 paid out for typical college costs like tuition, administrative fees, and textbooks, among other qualified costs. Claim the tax credit using IRS Form 8863, and make sure to include the college or university’s employer identification number when you complete your tax forms.8 Apr 2019