Due to the 2019 Disaster and Tax Relief Act, the Tuition and Fees deduction is now available for tax years after 2017!
The Tuition and Fees Deduction can lower your taxable income by up to $4,000. The deduction is available to individuals in undergraduate, graduate and professional degree courses. There is no limit to the number of times you are able to claim this deduction.
The following requirements must be met to claim the deduction:
- You paid qualified education expenses for higher education
- The expenses are for an eligible student
- The eligible student is yourself, your spouse of your dependent
You may not claim this deduction if:
- You file a married filing separate return
- Another person can claim you as a dependent (even if they do not claim you)
- Your Modified Adjusted Gross income exceeds the IRS limitations ($160,000 MFJ, $80,000 Single)
- The same expenses have been used to claim another deduction/credit