Education Tax Deduction Tax Deduction
The Education Tax Deductions are tuition and fees deduction, student loan interest deduction, and work related eduction expenses. Tuition and fees deductions allow you to deduct qualified education expenses paid during the year for yourself, your spouse, or your dependent. Student loan interest deduction is allowed if your MAGI is less than 70,000 ($145,000 if filing a joint return. For those who had work related education expenses which were not reimbursed by their employer can deduct those expenses as business expenses in Schedule C.
Eligibility
Each deduction has eligibility critiera that must be statisfied to take those deductions.
How to Claim
Form 1040, Schedule C
References