Tuition and Fees Deduction. 1  For purposes of the tuition and fees deduction, qualified education expenses are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. If you qualify for the Lifetime Learning Credit you may claim the following expenses: 1  Tuition and Student Activity Fees which are typically Box 1 or Box 2 of the Form 1098-T. 2  Expenses for course related books, supplies and equipment ONLY if the fees and expenses must be paid as a condition of enrollment or attendance. General Instructions Purpose of Form Use Form 8917 to figure and take the deduction for tuition and fees expenses paid in 2010.This deduction is based on qualified education expenses paid to an eligible postsecondary educational institution. See What Expenses Qualify, on page 2, for more information. The deduction is based on the amount of qualified education expenses you paid for the student in 2010 for academic periods beginning in 2010 and the first 3 months of 2011. F ! CAUTION Qualified education expenses must be reduced by any expenses paid directly or indirectly using tax-free educational assistance. Effect of the Amount of Your Income on the Amount of Your Deduction. If your MAGI is not more than $65,000 ($130,000 if you are married filing jointly), your maximum tuition and fees deduction is $4,000. Jackie does not report any portion of the scholarship as income on her tax return. In figuring the tuition and fees deduction, Jackie must reduce her qualified education expenses by the amount of the scholarship ($2,000) because she excluded the entire scholarship from her income. The tuition, education, and textbook amounts allows you to reduce any income tax you may owe. Your educational institution will provide you with a slip that has the total eligible tuition fees paid as well as the months you were enrolled either part-time or full-time. Using the slip and the links below, you can find out what you can claim and how to make your claim. Once the tax liability is reduced to zero, any remaining credit will not be added to the refund. Tuition/Fees Deduction-The Tuition and fees deduction allows taxpayers to deduct a maximum of $4,000 for qualified students enrolled at an eligible educational institution. Taxpayers can only claim a deduction for the amounts they paid for the educational expenses.  You paid $3,500 of qualified education expenses in December 2014, and your child began college in January 2015. You claimed $3,500 as the tuition and fees deduction on your 2014 income tax return. The reduction reduced your taxable income by $3,500. Jackie does not report any portion of the scholarship as income on her tax return. In figuring the tuition and fees deduction, Jackie must reduce her qualified education expenses by the amount of the scholarship ($2,000) because she excluded the entire scholarship from her income. The maximum tuition and fees deduction in 2014 is $4,000, $2,000, or $0, depending on the amount of your MAGI. See Effect of the Amount of Your Income on the Amount of Your Deduction, later. Jackie does not report any portion of the scholarship as income on her tax return. In figuring the tuition and fees deduction, Jackie must reduce her qualified education expenses by the amount of the scholarship ($2,000) because she excluded the entire scholarship from her income. Purpose of Form. Use Form 8917 to figure and take the deduction for tuition and fees expenses paid in 2014. This deduction is based on adjusted qualified education expenses paid to an eligible educational institution (postsecondary). See Qualified Education Expenses, later, for more information.  You can claim a tuition and fees deduction for qualified education expenses paid with the proceeds of a loan. Use the expenses to figure the deduction for the year in which the expenses are paid, not the year in which the loan is repaid. Jackie does not report any portion of the scholarship as income on her tax return. In figuring the tuition and fees deduction, Jackie must reduce her qualified education expenses by the amount of the scholarship ($2,000) because she excluded the entire scholarship from her income.
https://www.taxslayer.com/support/498/What-filing-status-should-I-choose http://faculty.cord.edu/ahendric/2011Fall105/taxforms/8917form.pdf https://www.irs.gov/publications/p970/ch06.html http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/323/menu-eng.html https://www.taxslayerpro.com/kbhelp/KnowledgebaseArticle50141.aspx https://www.irs.gov/publications/p970/ch06.html https://www.irs.gov/publications/p970/ch06.html https://www.esmarttax.com/tax-forms/federal-form-8917-instructions/ https://www.irs.gov/publications/p970/ch06.html
tuition and fees deduction eligible educational institution