Education Expense


A

akosonom

My wife got a form 1098-T where it shows the amount of money
she paid to a University for Education Expenses. Will we be
able to deduct this from our tax return or only part of it?
Is there a limit to how much money you can deduct? Any help
or guidance would be greatly appreciated

Thanks

AK
 
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P

Phil Marti

My wife got a form 1098-T where it shows the amount of money
she paid to a University for Education Expenses. Will we be
able to deduct this from our tax return or only part of it?
Is there a limit to how much money you can deduct?
To encourage math education Congress has enacted a whole
bunch of different choices for how to treat higher education
expenses. Sharpen your pencil, get out a calculator, and go
through IRS Publication 970 to find out which treatment will
be best for you. Don't forget to include the effect on your
state tax.
 

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