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Education
The tuition and fees deduction is not a refundable tax credit. It is a tax deduction (maximum $4,000) which will reduce your taxable income.
In your case, if you are in the 12% tax bracket, the tuition deduction can reduce your taxable income by $1,917 and your tax liability by $230 (12% x $1,917). If your tax liability is less than $230, it will be reduced to zero, but you will not receive any refund.
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‎February 26, 2021
12:05 PM