Tuesday, April 9, 2013

Higher Education Expenses

5:49 PM  ,  6 comments
In the condition that you are qualified to deduct your higher education expenses, please summarize how much you paid in tuition and books during the applicable tax year. You might also need to bring in all actual tuition billing statements as well. Amounts paid for tuition may include loans credited to the University. If valid, please have on hand how much you received in scholarships or fellowships and also bring in receipts for computers and peripherals you purchased for school. Note: Form 1098T (Tuition Statement) represents tuition billed during the current tax year. This is not always the number to use. You can only deduct the amount of “qualified tuition” & related fees paid. Continue reading

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