How much of a school tuition is tax deductible?

Answer The largest amount a student can claim as a college tax deduction in 2009 is $4,000. According to the IRS, this college tuition tax credit reduces a student's taxable income by $4,000 and is subjec... Read More »

Top Q&A For: How much of a school tuition is tax deductible

Is private school tuition tax deductible?

Private school tuition is not tax deductible, according to HSBC Private Bank. However, donations to a private school are tax deductible, if they are a gift and if the institution is organized as a... Read More »

Is Catholic school tuition tax-deductible?

Tuition for religious, private schools, such as a Catholic school, is not tax-deductible because you receive an education in return for your money, according to HSBC Private Bank. However, any paym... Read More »

When is tuition tax deductible?

Tuition that you pay for post-secondary education can be deducted from your taxable income. However, you cannot deduct the costs you pay with tax-free scholarships or if you claim other education c... Read More »

Is college tuition tax deductible?

On One Hand: American Opportunity CreditYou are eligible for up to $2,500 in tax deductions if you claim the Internal Revenue Service's American Opportunity Credit on your return. The credit allow... Read More »