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Is my family eligible for tax benefits?
DEDUCTIBLE TUITION AND EDUCATION FEES
The tax deduction for tuition and fees for postsecondary education can reduce taxable income by as much as $4,000 in 2009. This deduction is taken as an adjustment to income, which means you can claim the deduction even if you don’t itemize deductions (Form 1040, Schedule A).
Eligibility
Taxpayer:
- Must file a federal tax return
- Must claim an eligible student (see below) as a dependent, or be an eligible student
Student:
- Must be enrolled in one or more courses at an eligible educational institution
You cannot:
- Deduct qualified education expenses that you deduct under any other provision of the law (for example, as a business expense)
- Deduct qualified education expenses for a student on your income tax return if you or anyone else eligible claims a Hope or lifetime learning credit for that same student in the same year.
How to get a deduction
Enter the qualified tuition and fee amount on Form 1040, line 34, or Form 1040A, line 19. Amounts paid to the school are listed on the student’s 1090-T form.
More information
IRS Publication 970 – Tax Benefits for Education (chapter 6)
Student Stories
Adi Asali
Class of ’10
Class of ’10
Adi is one of thousands of students who are paying much less than MIT's “sticker price” – because we meet every student's full financial need.
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