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New Member
posted Nov 7, 2024 12:44:57 PM

We cashed in bonds in 2024. Also had education expense for college aged student. Can any tuition paid first 3 mos of 2025 be counted towards educ expense on 2024 taxes?

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3 Replies
Level 15
Nov 7, 2024 1:20:10 PM

Q. Can any tuition paid first 3 months of 2025 be counted towards educ expense on 2024 taxes?

A. No.  Any payment made in 2025 can only be counted on the 2025 tax return. 

 

You may be confusing that with a rule that allows you to claim, on your 2024 tax return,   payments made in 2024, for tuition and other expenses for the first 3 months of 2025. 

 

 

Level 15
Nov 7, 2024 1:20:48 PM

Education payments paid in 2025 cannot be entered on a 2024 tax return.

 

Payments made in 2024 for academic periods beginning in 2024 or beginning in the first 3 months of 2025 can be entered on a 2024 tax return.

Level 15
Nov 7, 2024 2:47:09 PM

What tuition will you be paying in the first 3 months of 2025? Will it be for classes in 2025, or will it be a late payment for classes that were taken in 2024? You cannot claim an education credit for tuition that is paid for a previous year. You can only claim tuition for classes that start in the same year that the payment is made, or in the first three months of the following year. On your 2025 tax return you can only claim tuition for classes that start in 2025 or in the first three months of 2026. You cannot claim tuition that you paid in 2025 for classes that were taken in 2024.