- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
Q. Can my dad claim the bond interest for my tuition?
A. No. He can only take the exclusion if he paid qualified higher education expenses in that same tax year for himself, his spouse, or his dependents.
Q. Can I get the lifetime learning credit (LLC)?
A. Yes, even though he paid your tuition. Although the general rule, in taxes, is that you must be the one making the payment, to get the deduction, there is an exception for education.
If he did qualify for the bond exclusion, you would not have been allowed to ALSO claim the same expenses for the LLC
March 19, 2022
2:01 PM