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Tax Deductions for College Expenses

Content provided by H&R Block

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Tax Tips from H&R Block

Overview

  • Deduct up to $2,500 of interest payments on a qualified student loan.
  • Deduct work-related education as a business expense.
  • If your modified adjusted gross income is less than $80,000 ($160,000 if Married Filing Jointly), you can deduct up to $4,000 of eligible tuition and fees.
  • Records are required for any deduction claimed on your tax return.

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