My child is 24 and this is the first year that I *cannot* claim her as a Dependent. She is in Graduate school full-time. I paid for all her education expenses (tuition, fees, books, equipment, room & board). The funding did not come from a 529 Plan. Who should claim these education expenses as potential deductions -- myself or my child? Thanks.
If you can't claim her a dependent, only she can claim her education credits, no matter who paid her tuition.
She can claim her education credits by entering her form 1098-T on her tax return.
The following is an extract of an IRS document:
Who can claim a dependent's education expenses. If a student is claimed as a dependent on another person's tax return, all qualified education expenses of the student are treated as having been paid by that person. Therefore, only that person can claim an education credit for the student. If a student is not claimed as a dependent on another person's tax return, only the student can claim a credit.