You'll need to sign in or create an account to connect with an expert.
No. Since the child is not your dependent you cannot deduct any education expenses you paid for the child on your tax return.
Check your state 529 rules. You could set up a 529 account for your son. You won't get any Federal benefit, but many states give credits against state income tax for money deposited into a qualifying account. You can usually start taking the funds out for qualified expenses almost immediately.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Parraway1971
Returning Member
lizzyb2180
New Member
lmosta
New Member
deltadawn100187
New Member
casshailes22
New Member