Are my children’s college tuition and other educational expenses tax deductible for me?

by Jennifer L. Romberger, CPA | Jan 05, 2015
askacpaiconIt depends. You may qualify for some deductions of your child's tuition and fees, or you may qualify for a more beneficial education tax credit.  Check out Federal Forms 8863 and 8917 for worksheets that should be able to help you compute eligible tax savings. There are many ways to benefit from educational tax credits, but they can be complex. Contact your local CPA to walk you through the process. To find a CPA by location or area of expertise, visit www.ineedacpa.org.

Answered by: Jennifer L. Romberger, CPA, EA, is with Long Financial Group Inc. in Blue Bell, Pa.
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