College tuition

[Redbeard876]

Working on the NY state tax portion. Question asks if we paid tuition in 2020. My son was in college, and my wife cosigned the loan for his tuition/books/supplies. Should I answer yes, or no on account of her not technically paying it directly?

[KrisD15]

Yes. Paying with a loan or credit card is the same as paying cash. 

Only expenses paid in 2020 for tuition which were not covered by scholarships would count. 

The student needs to be your dependent. 

If the student is your dependent, and you did pay college tuition and fees, you should have gotten a 1098-T which could generate an Education Credit on your Federal tax return. 

For the NY state credit:

You are entitled to this credit or deduction if:

• you were a full-year New York State resident,
• you, your spouse, or dependent (for whom you have taken an exemption) were an undergraduate student who was enrolled at or attended an institution of higher education and paid qualified tuition expenses, and
• the student is not claimed as a dependent on another person's tax return.

Please click this link to learn more about FEDERAL education credits