What is the Tuition and Fees Deduction?
If you don't qualify for the American Opportunity Credit or the Lifetime Learning Credit, you might be eligible for the tuition and fees deduction.
This deduction can reduce your taxable income by up to $4,000.
It's not available if:
- You’re single or head of household with an AGI over $80,000.
- You’re married filing jointly with an AGI over $160,000.
- You’re married filing separately.
- Another person (usually your parents) can claim an exemption for you as a dependent on their tax return (whether or not they actually do it).
You also need to have qualified expenses, which include:
- course-related books
- supplies, or equipment
- enrollment and lab fees
- other expenses required for enrollment or to attend an eligible educational institution
- room and board
- extracurricular activities
- student health fees
- living expenses like food
- housing, or transportation
- fees for noncredit or "fun" courses not required to earn the degree
An eligible educational institution is any college, university, vocational school, or post-secondary educational institution eligible to participate in a student aid program administered by the US Department of Education (which is pretty much every accredited post-secondary educational institution).