Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: harbor991 Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 124141  
Subject: Deductions/Credits Available??? Date: 5/18/2013 8:08 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Hello All,

My wife and I are fully retired in our mid-sixties and wish to pay up to $5000 a year per child towards the costs of post-secondary or tertiary education for a number of our nieces, nephews, and great-nieces/nephews ranging in age from 5-16 years. None of the children live with us, and we don't contribute anything towards their upkeep/care that would qualify them as our dependents.

Given the relationships, are there any tuition related tax credits, deductions, or other tax related advantages or approaches available to us? I have researched an IRS Tax Tip pamphlet entitled “Five Ways to Offset Education Costs” (found here:, and have also read IRS Publication 920. In all cases we don't meet the dependency requirement. I'm out of ideas, and would appreciate any suggestions, guidance, or advice.


Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Post of the Day:
Macro Economics

Looking at Oil and Gas
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.