MayaD
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Education

 

You might qualify for the education credit. An education credit helps with the cost of higher education by reducing the amount of tax owed on your tax return. If the credit reduces your tax to less than zero, you may get a refund. There are two education credits available: the American Opportunity Tax Credit and the Lifetime Learning Credit.

 

Health insurance premiums are deductible on federal taxes as medical expenses if you itemize your deduction. However, you may deduct only the amount of your total medical expenses that exceed 7.5% of your adjusted gross income. Medical and Dental Expenses

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