Does a Tuition Deduction of $4,000 mean that I should be getting $4,000 returned to me? If not, where does it go?

 

Education

No you do not get a $4000 refund.   Depending on which education credit you use, you might get a $1000 refund if you are able to use the American Opportunity Credit.   If you use the Lifetime Learning Credit or the tuition and fees deduction then it reduces your tax owed----it is not added to  your refund.

 

https://ttlc.intuit.com/questions/1901172-what-are-education-tax-credits

 

https://ttlc.intuit.com/questions/1901487-what-is-the-tuition-and-fees-deduction

https://ttlc.intuit.com/questions/1901172-what-education-tax-credits-are-available      

https://www.irs.gov/help/ita/am-i-eligible-to-claim-an-education-credit

 

https://www.eitc.irs.gov/other-refundable-credits-toolkit/compare-education-credits-and-tuition-and-...

 

https://ttlc.intuit.com/questions/3262983-who-is-eligible-to-take-the-american-opportunity-tax-credi...

https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-lifetime...

 

https://ttlc.intuit.com/questions/3262984-who-is-eligible-for-the-lifetime-learning-credit

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Education

A Deduction is a subtraction from income, before the tax rate is applied. 

A Credit is a direct subtraction from taxes due.