School Tuition

[ptmahsem]

The school loan for my son's tuition is under my name, but don't know if I can expense the full tuition paid for 2019 to University of WI if the loan itself has not been paid in full? Or, can I only deduct the amount of principal paid against the loan? Or any of it?

[DavidS127 · Accepted solution]

You use the full tuition paid, as reported on the Form 1098-T to calculate your education expenses in TurboTax.

Interest expense paid on the student loan is deducted separately, if you are eligible.

[ptmahsem]

Okay, so let me ask this.  I didn't take my Son as a dependent on my Federal, and he took the tuition expense on his Federal, but not his WI state return.  Since I can't take it on my Federal can I still take it for the WI State return?

Thank you. 

[AlanT222]

Since you are not claiming your son a a dependent, you cannot claim the tuition subtraction.  

Generally, you may claim the tuition subtraction if all of the following are true:

• You pay tuition and fee expenses of higher education at a qualifying school
• You pay the tuition and fee expenses for an eligible student
• The eligible student is yourself, your spouse, or your dependent for whom you claim an exemption on your income tax return
• You meet certain income limitations.  

[ptmahsem]

Thanks, so should we amend my son's state return and include the tuition or can you only take it on either Federal or State?  He already filed his state by mail.

[ColeenD3]

States most of the time follow the Federal rules. Whoever takes the credit on the Federal return, should take it on the State as well.