Though I'm no tax lawyer, I investigated this a bit before doing my taxes this year. It doesn't seem that you can take either a tax credit or deduction See IRS form 8863, "Education Credits" http://ftp.fedworld.gov/pub/irs-pdf/f8863.pdf Since you are not claiming her as a dependent, you cannot take the Hope or Lifetime Learning tax credits. Interestingy enough, though, her parents could take the credits (assuming they claim her as a dependent) based on any and all money you contribute. You also can't deduct this on line 20 of Schedule A, because it isn't REQUIRED for YOUR job. See Sched A instructions http://ftp.fedworld.gov/pub/irs-pdf/i1040sa.pdf Hope this helps!
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra