American Opportunity Tax Credit
The American Opportunity Tax Credit can provide a federal income tax credit of up to $2,500 per student. Learn how to qualify and how the tax credit works.
Lifetime Learning Tax Credit
The Lifetime Learning Tax Credit provides a federal income tax credit of up to $2,000 per taxpayer per year. Find out more about eligibility and qualifications.
Tuition and Fees Deduction
The tuition and fees deduction allows an above-the-line exclusion from income for up to $4,000 in tuition and fee expenses.
Employer Tuition Assistance
Up to $5,250 in employer-provided tuition assistance may be excluded from the employee’s income on federal income tax returns.
Business Deduction for Work-Related Education
Sometimes work-related education expenses beyond the $5,250 exclusion for employer tuition assistance may be deductible as a miscellaneous itemized deduction.
Tuition Gift Tax Exclusion
If tuition is paid directly to a college and university it may be exempt from gift taxes.