Form 8917 is used to calculate the Tuition and Fees Deduction. If you have qualified education expenses, the tuition and fees deduction can reduce the amount of your income subject to tax by up to $4,000.
You can claim the tuition and fees deduction if you meet the following requirements:
- You pay qualified education expenses for higher education
- You pay the education expenses for an eligible student
- The student is you, your spouse, or your dependent
There are also two credits available for qualified education expenses: the American Opportunity Credit and the Lifetime Learning Credit. TurboTax will help you determine which education credit or deduction provides the greatest benefit.
Please click on this TurboTax article for more information.
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