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Student Loan Tax Deductions and Tax CreditsIf you have student loans, chances are you’ve heard of certain deductions or tax credits that you may qualify for. We explain the basics, including which forms to keep your eyes peeled for.
Student Loan Tax Deductions and Tax Credits
If you have student loans, chances are you’ve heard of certain deductions or tax credits that you may qualify for. We explain the basics, including which forms to keep your eyes peeled for.
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.
Student Loan Tax Deductions and Tax Credits
If you have student loans, chances are you’ve heard of certain deductions or tax credits that you may qualify for. We explain the basics, including which forms to keep your eyes peeled for.