Deductions Calculator
Tell us a little about yourself
Are you claiming the student on your tax return?
You do not qualify for education tax breaks if you are not claiming the student on your tax return.
Which of these apply to the student:
Please check all that apply.
One of the following needs to apply to your student in order for
you to
qualify for an education credit or deduction:
Was enrolled in a degree, certificate
or
credential program
Was enrolled in college level course, but has not yet completed
the first
4 years of college education
Took one or more courses to acquire or improve their job
skills
Was enrolled in a program for at least half time for an academic period or
more
Was interest paid on the student’s loans in 2022?
Good news! You may qualify for the following education deductions and credits:
TurboTax will help you figure out which of the following will save you the most on your tax return.
American Opportunity Tax Credit
Per student, you may be able to claim an education credit of up to...
$2,500
Lifetime Learning Credit
Per tax return, you may be able to claim a credit up to...
$2,000
You may also qualify for Student Loan Interest Deduction:
Student Loan Interest Deduction
You may be able to deduct interest up to...
$2,500
Good news! You may qualify for the following education deductions and credits:
TurboTax will help you figure out which of the following will save you the most on your tax return.
Lifetime Learning Credit
Per tax return, you may be able to claim a credit up to...
$2,000
You may also qualify for Student Loan Interest Deduction:
Student Loan Interest Deduction
You may be able to deduct interest up to...
$2,500
Good news! You may qualify for the following education deductions and credits:
TurboTax will help you figure out which of the following will save you the most on your tax return.
American Opportunity Tax Credit
Per student, you may be able to claim an education credit of up to...
$2,500
Lifetime Learning Credit
Per tax return, you may be able to claim a credit up to...
$2,000
Good news! You may qualify for the following education deductions and credits:
TurboTax will help you figure out which of the following will save you the most on your tax return.
Lifetime Learning Credit
Per tax return, you may be able to claim a credit up to...
$2,000
Good news! You may qualify for the following education deductions and credits:
TurboTax will help you figure out which of the following will save you the most on your tax return.
Student Loan Interest Deduction
You may be able to deduct interest up to...
$2,500
Is someone going to claim you on their tax return?
You do not qualify for education tax breaks if someone is claiming you as a dependent on their tax return.
Which of these apply to you:
Please check all that apply.
One of the following needs to apply to you in order for you to
qualify for
an education credit or deduction:
Was enrolled in a degree, certificate or credential program
Was enrolled in
college
level course, but have not yet completed the first 4 years of college education
Took
one or
more courses to acquire or improve my job skills
Was enrolled in a program for at
least half
time for an academic period or more
Was interest paid on your student loans in 2022?
Good news! You may qualify for the following education deductions and credits:
TurboTax will help you figure out which of the following will save you the most on your tax return.
American Opportunity Tax Credit
Per student, you may be able to claim an education credit of up to...
$2,500
Lifetime Learning Credit
Per tax return, you may be able to claim a credit up to...
$2,000
You may also qualify for Student Loan Interest Deduction:
Student Loan Interest Deduction
You may be able to deduct interest up to...
$2,500
Good news! You may qualify for the following education deductions and credits:
TurboTax will help you figure out which of the following will save you the most on your tax return.
Lifetime Learning Credit
Per tax return, you may be able to claim a credit up to...
$2,000
You may also qualify for Student Loan Interest Deduction:
Student Loan Interest Deduction
You may be able to deduct interest up to...
$2,500
Good news! You may qualify for the following education deductions and credits:
TurboTax will help you figure out which of the following will save you the most on your tax return.
American Opportunity Tax Credit
Per student, you may be able to claim an education credit of up to...
$2,500
Lifetime Learning Credit
Per tax return, you may be able to claim a credit up to...
$2,000
Good news! You may qualify for the following education deductions and credits:
TurboTax will help you figure out which of the following will save you the most on your tax return.
Lifetime Learning Credit
Per tax return, you may be able to claim a credit up to...
$2,000