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Old 01-16-2007, 02:31 AM
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Tax deductibles for students?

I am a full-time student, are there any special deductibles on taxes for students?



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Old 01-16-2007, 10:09 AM
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Quote:
Originally Posted by samantha View Post
I am a full-time student, are there any special deductibles on taxes for students?
Dear Samantha,

If you are a full-time student, your parents can claim either an Education credit or a an adjustment for Qualified Tuition expenses.

The choice of claiming a deduction versus claiming a tax credit depends on your parents tax situation, namely their adjusted gross income.

Regards

Tax Guru



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