- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
The standard deduction does not involve education expenses.
The standard deduction is taken if the Itemized Deductions on Schedule A for the following do not add up to be more than the standard deduction, which for tax year 2016 is $6,300 single, $12,600 Married Filing Jointly:
Medical expenses over 10% of Adjusted Gross Income
Other taxes paid, such as State and local taxes
Home mortgage interest paid
Charitable donations
Casually loss
Job expenses over 2% of Adjusted Gross Income
Other miscellaneous deductions.
EDUCATION EXPENSES are not included, they are used for a separate Education Credit (such as the American Opportunity Tax Credit, or Lifetime Learning Credit) or the Tuition and Fees deduction.
‎June 6, 2019
4:54 AM