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Did you know? Education Tax Credits

Did you know? Education Tax Credits

Did you know that the higher education tax credits are claimed on the tax return where the student's exemption is claimed?

Thus if a grandparent, former spouse, or anyone other than you paid the tuition, and you are the one who claims the student as a dependent, then even though you didn't pay a dime of the tuition, you still get to claim the credit for the tuition (provided your income is below a specified amount). 

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Lee Reams, BSME, EA

Lee Reams, BSME, EA

Editor-in-Chief

Besides his role at CountingWorks as an educator and speaker to thousands of accountants nationwide, Lee manages a technical research service for a large group of tax accountants which sharpens his technical skills. Lee served on the Board of Blackline Systems, is a former Board of Director for the California Tax Education Council, is a Past President of the San Fernando Valley Chapter of Enrolled Agents, Member and Past Director for the California Society of Enrolled Agents.

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