- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
I believe you.
Am I misunderstanding the following Article?
Whose Tuition Can You Pay to Qualify for Educational Exclusion?
You can qualify for the federal gift tax educational exclusion simply by paying for any student’s tuition. You may cover any student’s tuition, whether he or she is studying full-time or part-time. He or she can also attend a variety of educational institutions, from elementary schools to universities. You might pay for the tuition of your child, your grandchild, a sibling, a student you’re mentoring, or someone else whose education you care about. The choice is yours!
Gifting tuition is a great way to ease the financial burden of someone you love while reducing your annual tax burden. Exclusion gift limits may increase over time, so make sure you’re aware of your eligible claims each year. Don’t overlook opportunities to further a loved one’s education through the gift tax education exclusion.