To claim rental and education expenses for your son attending ASU, here are some parameters:
- Education Tax Credits: Education tax credits like the American Opportunity Credit or the Lifetime Learning Credits typically offset the cost of tuition, fees, and course materials. Unfortunately, room and board expenses, including off-campus housing, are not eligible for these credits.
- State Tax Benefits: Minnesota offers the K-12 Education Subtraction and Credit, but these are specific to K-12 education expenses
For more detailed information, you can visit the IRS page on education credits and the Minnesota Department of Revenue's education subtraction and credit page.
