My 30yo son returned to school to complete his degree. I am paying for his tuition. Since he is obviously no longer a dependent, is there any way i can deduct what i have spent?
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Sorry--no. You cannot get education credits unless you are claiming your son as a dependent. But HE can get the credit on his own tax return. You are giving him a gift---which is not deductible for you.
No. Only he can claim education credit.
Thanks for the response. I forgot to add that we are paying all his living expenses also. Is there any way to recover any of that?
@glenhodson You cannot recover living expenses you pay for your son. If you can claim him as a qualifying relative dependent you get a $500 credit for other dependents and you could claim the education credit.
But does he meet the criteria to be your qualifying relative? If he had over $4300 of income (not counting Social Security) he cannot be a qualifying relative. (And he is too old to be a qualifying child)
CREDIT FOR OTHER DEPENDENTS
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