Deductions for college

[DDABM]

Is it worth it to list all college expenses - tuition, room, board, books, etc - for deductions? Or is there a certain dollar amount where at a point it is not worth calculating expenses.

[DaveF1006]

Yes, you should list the expenses that include tuition and books to receive the full amount of the credit.. Room and board usually isn't considered a qualified education expense for the purpose of education credits.

The one exception is if room and board was paid for with a Coverdell ESA or 529 plan distribution. In that case, the cost can be deducted from the taxable part of the plan's distribution.