can ex claim college tuition and I claim dependent
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Claiming a dependent and the tuition and fee deduction Generally, in order to claim the tuition and fees deduction for qualified education expenses for a dependent, you must: Have paid the expenses, and Claim an exemption for the student as a dependent. It is not clear from your question who paid the 2012 expense.If you did, and your son is your dependent (likely) you can claim the expense on your tax return. If your son is your dependent and he paid, then no one gets to claim the expense.laim an exemption for the student as a dependent. It is not clear from your question who paid the 2012 expense. If you did, and your son is your dependent (likely) you can claim the expense on your tax return. If your son is your dependent and he paid, then no one gets to claim the expense.
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Can I Claim My College Age Child on My Tax Return? Claiming your college-age child as your dependent might result in a tax credit as well, which reduces your tax bill to the IRS. As of the 2012 tax year, the IRS offers three tax credits for tuition, although one of them is set to expire after 2012 unless legislation passes to renew it.
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- You do not have to itemize to take the tuition and fees deduction. You claim the deduction as an adjustment to income on Form 1040 (PDF) or Form 1040A (PDF), U.S. Individual Income Tax Return. For more information regarding this deduction, the credits or education business expenses, refer to Publication 970.You cannot take the tuition and fees deduction on your income tax return if your filing status is married filing separately, or if you may be claimed as a dependent on someone else's return.f the educational expenses also qualify as an allowable business expense, then you may be able to claim the tuition and fees deduction in conjunction with a business expense deduction, however you cannot deduct the same expenses twice.
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- 1 A student cannot transfer all or part of his or her tax credit for tuition or examination fees to his or her spouse. 2  However, a student can transfer the unused portion of his or her non-refundable tax credits to his or her spouse. student can transfer all or part of his or her tax credit for tuition or examination fees to you, provided the transferred portion relates to fees paid for 2014 and you are. 1  the student's father or mother (This link will open a new window).
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Can I Claim Tuition & Interest Deductions if My Child Claims Themselves? However, if you don't claim your child as a dependent, your child can claim the tax credit instead. The tuition and fees deduction requires that the person paying the expenses claim the deduction.
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About Claiming a College Student on Taxes slide 1 of 3. IRS Definition of Dependent Claiming a college student on your taxes requires that they be your dependent. The IRS defines who qualifies as a dependent in IRS Publication 501 Exemptions, Standard Deduction, and Filing Information. The definition of a tax dependent is actually fairly straightforward.
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Tax Credits & Tax Deductions for Parents with Children or Dependents You may be able to claim a tax deduction of up to $4,000 for qualifying tuition and fees you paid for you, your spouse, or a dependent. You may deduct any qualified expenses up to $4,000, even if you paid the tuition and fees with a loan.his credit can be worth up to 35% of some or all of the expenses you paid to the care provider, based on your yearly income and the number of children. The maximum credit for 2014 is $2,100. Find more information about child and dependent care expenses.
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398 â Tax credit for tuition or examination fees Even if your tuition or examination fees were paid by another person, you can claim a tax credit for the fees or transfer the unused portion of the tax credit to one of the people mentioned above (provided the transferred portion relates to the fees paid for the year).ven if your tuition or examination fees were paid by another person, you can claim a tax credit for the fees or transfer the unused portion of the tax credit to one of the people mentioned above (provided the transferred portion relates to the fees paid for the year).
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- Topic 457 - Tuition and Fees Deduction. You may be able to deduct qualified tuition and related expenses that you pay for yourself, your spouse or a dependent as a tuition and fees deduction. To determine whether your expenses qualify, refer to Publication 970, Tax Benefits for Education.or more information regarding this deduction, the credits or education business expenses, refer to Publication 970. You cannot take the tuition and fees deduction on your income tax return if your filing status is married filing separately, or if you may be claimed as a dependent on someone else's return.
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Tax Deductions for Expenses Paid for Children Not Claimed as Dependents In addition, for the deduction for education expenses, you must also claim an exemption for the child on your tax return. Contributions on behalf of a child to 529 plans, designed as education savings plans, are not deductible whether or not the child is your dependent.
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Can I Claim My College Age Child on My Tax Return? Special rules apply to divorced parents. Technically, you're both eligible to claim your child, so the IRS has tiebreaker rules to decide which one of you can do so if there's a dispute. The tiebreaker rules give the dependent deduction to the parent with whom your child lived most during the tax year. This must amount to more than six months.
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Education Credits and Tuition and Fees Deduction (Form 1098-T) You do not have to itemize to take the tuition and fees deduction. You claim the deduction as an adjustment to income on Form 1040 (PDF) or Form 1040A (PDF), U.S. Individual Income Tax Return. For more information regarding this deduction, the credits or education business expenses, refer to Publication 970.You cannot take the tuition and fees deduction on your income tax return if your filing status is married filing separately, or if you may be claimed as a dependent on someone else's return.ou may be able to deduct qualified tuition and related expenses that you pay for yourself, your spouse or a dependent as a tuition and fees deduction. To determine whether your expenses qualify, refer to Publication 970, Tax Benefits for Education.
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Publication 970 - Introductory Material Expenses paid by dependent. If you claim an exemption on your tax return for an eligible student who is your dependent, treat any expenses paid (or deemed paid) by your dependent as if you had paid them. Include these expenses when figuring the amount of your lifetime learning credit.or you to claim a lifetime learning credit for your dependent's expenses, you must also claim an exemption for your dependent. You do this by listing your dependent's name and other required information on Form 1040 (or Form 1040A), line 6c.
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Can My Child's College Apartment Payment Be Used as a Tax Deduction? The Internal Revenue Service provides several tax credits and deductions for families with dependent children who are attending college. These tax benefits primarily cover educated-related expenses, such as tuition, books, and supplies. However, room and board are not covered. This means that parents cannot use their child’s college apartment or dorm payments as a tax deduction.
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Can I Claim Tuition & Interest Deductions if My Child Claims Themselves? For example, if only your child is on the student loan, you can't claim the interest payments, even if you claim your child as a dependent. However, if you are a co-signer and pay the interest, you can claim the deduction because you are legally obligated to pay the loan.or example, if only your child is on the student loan, you can't claim the interest payments, even if you claim your child as a dependent. However, if you are a co-signer and pay the interest, you can claim the deduction because you are legally obligated to pay the loan.
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- James and Barbara can claim their child, Ben, as a dependent on their return. Ben is a college student who works during the summer and must file a tax return. Ben can’t claim his own exemption on his return. This is true even if James and Barbara don’t claim him as a dependent on their return.
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Can I Claim My Son's Education Expenses When He Is Not a Dependent? The IRS makes no exception for children who cannot be claimed as a dependent for one reason or another. In the case of the tuition and fees deduction, if the parent pays for education expenses and the student is not claimed as a dependent, the deduction is lost.
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Tax Credits & Tax Deductions for Parents with Children or Dependents However, if you are filing a return for 2013 and earlier Tax Years, you may be able to deduct your child's school fees and tuition if you don't claim either student tax credit. You may be able to claim a tax deduction of up to $4,000 for qualifying tuition and fees you paid for you, your spouse, or a dependent.You may deduct any qualified expenses up to $4,000, even if you paid the tuition and fees with a loan.ou may be able to get a Child Tax Credit for each of your qualifying children under age 17. The credit is intended to offset the cost of raising children. The maximum amount you can get for each child is $1,000 for Tax Year 2014.
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What Deductions Can My Child Use When I'm Claiming Him on My Taxes But He Works? Dependents are not allowed to take the tuition and fees deduction or the student loan interest deduction, even if they paid the amounts from their own money. Parents can take the tuition and fees deduction only if they paid the amount themselves.
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- If a student isn’t claimed as a dependent, though, it’s possible for him or her to claim an education tax credit, or take the deduction. One thing to keep in mind, each student cannot claim more than one tax break.his is an important distinction because it’s an either/or situation in terms of who gets the tax break. If the parent claims the education tax deduction or credit, then the child (in this case, the dependent) can’t claim it.
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Taxes â When To Claim College Students As Dependents Because only one person can claim the student. They should check the box indicating that “someone else can claim you” as an exemption and complete the worksheet. Most students will still end up with either zero taxable income or something much lower than the savings to the parent.
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Can I Claim My College-Age Child on My Tax Return? You can claim a $3,700 exemption if your college-age child qualifies as a dependent. The Internal Revenue Service allows you to reduce the amount of your taxable income based on the number of exemptions you claim. You can claim one exemption for yourself, one for your spouse, and one for each of your dependents.If you've claimed an exemption for your child for the past 18 years, but this year she turned 19 and you're wondering if you can still hang on to that tax break, the answer is: maybe.f you've claimed an exemption for your child for the past 18 years, but this year she turned 19 and you're wondering if you can still hang on to that tax break, the answer is: maybe.
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Can I Claim My College-Age Child on My Tax Return? You can claim a $3,700 exemption if your college-age child qualifies as a dependent. The Internal Revenue Service allows you to reduce the amount of your taxable income based on the number of exemptions you claim.You can claim one exemption for yourself, one for your spouse, and one for each of your dependents.If you've claimed an exemption for your child for the past 18 years, but this year she turned 19 and you're wondering if you can still hang on to that tax break, the answer is: maybe.ou can claim one exemption for yourself, one for your spouse, and one for each of your dependents. If you've claimed an exemption for your child for the past 18 years, but this year she turned 19 and you're wondering if you can still hang on to that tax break, the answer is: maybe.
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1098T Instructions to Student You, or the person who can claim you as a dependent, may be able to claim an education credit on Form 1040 or Form 1040A, only for the qualified tuition and related expenses that were actually paid in 2012.