F
FreddieFarkle
As the proud parent of one child attending a frightfully overpriced
undergrad institution, I am eyeing the "Tuition and fees deduction" on
line 34 of my 1040, as established by completing form 8917. My son's
tuition, fees and expenses is paid through the following items: (i)
some financial aid (ii) student loan, (iii) Texas Tomorrow Fund (a pre-
paid tuition plan), and (iv) my hard earned money. When I review form
8917 I establishes that room and board is not a "qualified education
expense". My son's college lumps all the tuition/fees and the room
and board together, and once the dough from items (i) through (iii)
has been applied, I get a bill for the rest. The point is, there is
no way to "know" whether my out-of-pocket expense (my payment to the
school) have gone to pay "qualified education expenses" or room and
board. Has Congress given me, in the line 34 deduction, yet another
impractical, and ultimately, useless deduction?
undergrad institution, I am eyeing the "Tuition and fees deduction" on
line 34 of my 1040, as established by completing form 8917. My son's
tuition, fees and expenses is paid through the following items: (i)
some financial aid (ii) student loan, (iii) Texas Tomorrow Fund (a pre-
paid tuition plan), and (iv) my hard earned money. When I review form
8917 I establishes that room and board is not a "qualified education
expense". My son's college lumps all the tuition/fees and the room
and board together, and once the dough from items (i) through (iii)
has been applied, I get a bill for the rest. The point is, there is
no way to "know" whether my out-of-pocket expense (my payment to the
school) have gone to pay "qualified education expenses" or room and
board. Has Congress given me, in the line 34 deduction, yet another
impractical, and ultimately, useless deduction?