Comments on: Tax Breaks For College Students and Their Parents http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/ It's all about the refund Thu, 13 Jun 2013 19:26:13 +0000 hourly 1 http://wordpress.com/ By: Sabreen http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-41947 Thu, 14 Feb 2013 04:48:32 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-41947 If I bought my books online from sites such as Amazon, Ebay and Chegg can I still get tax credits for them?

]]> By: Cathy Taylor http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-41687 Tue, 12 Feb 2013 14:54:30 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-41687 Our daughter is a senior and we made several trips to visit colleges this year. The longest trip was to Nashville where we visited Vanderbilt and Belmont on their campus visitation days. This required hotel stay. Are any of the affiliated expenses tax deductible? (mileage, cheap hotel, etc?)

]]> By: redhermit http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-38410 Wed, 30 Jan 2013 12:04:03 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-38410 I am a part time college student with a mortgage. Can I claim any of my mortgage as room and board?

]]> By: TurboTaxLisa http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-34948 Mon, 18 Jun 2012 22:48:08 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-34948 Hi Angie,
There are many tax breaks depending on if you have enough to itemize your deductions or take the standard deduction. Here is a blog that may help you:
http://blog.turbotax.intuit.com/2012/02/15/turbotax-answers-your-most-common-tax-questions/
Thank you,
Lisa Greene-Lewis

]]> By: TurboTaxLisa http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-34947 Mon, 18 Jun 2012 22:40:12 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-34947 Hi Angie,
If you claim your daughter as a dependent, you can claim the student loan interest as long as the loan proceeds were used for her education within a reasonable time. Please see this FAQ for more help http://turbotax.intuit.com/support/iq/Education/Can-I-Claim-the-Student-Loan-Interest-Deduction-/GEN80353.html

Thank you,
Lisa Greene-Lewis

]]> By: Angie http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-34942 Mon, 18 Jun 2012 13:57:05 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-34942 By the way while I am asking. Are there any new tax breaks for people who do not have any children at home. Very little things to claim. Angie from NC.

]]> By: Angie Banks http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-34941 Mon, 18 Jun 2012 13:50:56 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-34941 Hello, I have two student loan in my name for my daughter. She is now out of College and I did not know if i could use the loans for tax reasons. Thank you Angie from NC.

]]> By: one way to save for college http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-34875 Sat, 09 Jun 2012 12:57:16 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-34875 One of the major concerns many parents have is how to pay for college. Some put it off until their children are visiting schools, while others start the moment their child is born. While it’s always best to save early, college savings is one place where being smart about where you save, and how much, can be crucial.

]]> By: TurboTaxLisa http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-33219 Tue, 27 Mar 2012 06:29:47 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-33219 Hi Karen,
You cannot file married filing separately and claim the education credits or deduction. You have to file married filing jointly.
Thank you,
Lisa Greene-Lewis

]]> By: Karen http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-33209 Tue, 27 Mar 2012 01:14:20 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-33209 I am married, and my husband and I file separately. Is it possible for one of us to claim education deductions for our daughter or do we have to file jointly?

Thank you

]]> By: TurboTaxLisa http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-32959 Sat, 17 Mar 2012 01:43:34 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-32959 Hi Sandra,
Unfortunately, room and board, utilities, furniture, and her move there are not college expenses eligible for the education deductions and credits.

It sounds like you may qualify for supplying over half of her support so you may be able to claim her as a dependent.

Thank you,
Lisa Greene-Lewis

]]> By: Sandra http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-32944 Fri, 16 Mar 2012 16:50:11 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-32944 My daughter is in college out of state and i pay her rent utilities cable for room and board, can I claim the amounts. Also I moved her there and bought her furniture for school can I claim that also?
Thank you

]]> By: TurboTaxLisa http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-32454 Thu, 08 Mar 2012 07:56:32 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-32454 Hi Melinda,
If you are talking about documents so that they can claim education expenses, you should give them your 1098-T if you receive one for your college expenses. Your parents also must claim you as a dependent in order to deduct the education expenses.
Thank you,
Lisa Greene-Lewis

]]> By: Melinda http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-32434 Thu, 08 Mar 2012 00:51:26 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-32434 Hi, I’m a first year college student and I am going in school full time. I was wondering what type of documents do I need to give to my parents so they can present it when they do they’re taxes.

Thank you!

]]> By: TurboTaxLisa http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-30541 Wed, 08 Feb 2012 01:09:47 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-30541 Yes he can, but there are a few stipulations. If he is in the first four years of college he can claim the American Opportunity Credit and deduct his tuition, books, and fees. The tuition will most likely be reported on the 1098-T. If he paid the educational institution for the books and fees directly they will report those items on 1098-T. Even if they don’t report the books on 1098-T he can deduct them. If he is a graduate student he may qualify for the Lifetime Learning Credit, however books must be purchased from an educational institution to be able to deduct them under this credit. He may also qualify for Tuition and Fees deduction. Don’t worry TurboTax will guide you through the entries and choose the best option.
Thank you,
Lisa Greene-Lewis

]]> By: p. Hyland http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-30538 Wed, 08 Feb 2012 00:15:09 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-30538 my son works, pays his own tuition and is not a dependant. he will get all his withholding back. can he get more back for tuition, books, fees etc??

]]> By: TurboTaxLisa http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-29449 Mon, 09 Jan 2012 10:07:25 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-29449 Hi Judy,
College fees are deductible, but not the entire amount. In addition, the person who claims your son as a dependent will get the deduction for his college tuition.
Thank you,
Lisa Greene-Lewis

]]> By: Judy http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-29436 Sun, 08 Jan 2012 02:40:18 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-29436 I am divorced and my ex spouse is claiming my son as a deduction. We split college fees 50-50. I will pay approximately 15,000 in tuition and fees. Is this deductible?

]]> By: TurboTaxLisa http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-28580 Mon, 28 Nov 2011 04:45:52 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-28580 Hi Herb,
If it is college tuition, you can only claim it if you claim him as a dependent. If your grandson files his own taxes and claims the personal exemption, then he would get the deduction. If his parents claim him as a dependent, they will get the deduction.

If it is high school tuition, you unfortunately cannot deduct it.

I hope this helps you!

Thank you!
Lisa Lewis

]]> By: Herb http://blog.turbotax.intuit.com/2011/02/28/tax-breaks-for-college-students-and-their-parents/#comment-28493 Wed, 16 Nov 2011 10:29:05 +0000 http://blog.turbotax.intuit.com/?p=5099#comment-28493 I have been paying my Grand son’s tuition, can I deduct the amount I paid.

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