Today TaxMama hears from Kevin in the TaxQuips Forum, with an interesting problem. “Many high school students are taking Advance Placement (AP) courses through an eligible educational institution as a means to earn college credits at an economical price. I was trying to find out if the costs of these courses are deductible as Tuition and […]
Category Archives: Tuition and Fees Deduction
Today TaxMama hears from Kristen in the TaxQuips Forum, who is a bit confused. “I am a 23 year old full time student. My income from 2010 is $12,247 and I live with my parents. My parent’s accountant told them last year that they would not be able to claim me once I turned 23, […]
Today TaxMama hears from Dil in the TaxQuips Forum, who needs clarification. “The issue is related to the definition of ‘qualified educational institution.’ The institution is a regionally accredited one, but the full definition of ‘qualified educational institution’ requires that it be a Title IV institution – one whose students may receive federal financial aid. The […]