Discussion:Tuition credit/deduction for student who graduates
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Discussion Forum Index --> Tax Questions --> Tuition credit/deduction for student who graduates
Taxalmancer (talk|edits) said: | 21 February 2008 |
| Hi everyone. Quick question that seems easy but I can't lay my finger on anything concrete.
2007 was the final semester for a full-time student who graduated then went out into the working world. Mom and dad paid the tuition, the student has a W-2 for $25K, and mom and dad's income is too much for them to receive any tax benefits. The student will not be claimed as a dependent on mom and dad's return and will file his own return. Can the student claim tuition credits even though the tuition was not paid by him? It was paid by mom and dad. | |
Death&Taxes (talk|edits) said: | 21 February 2008 |
| For the credit, I don't believe it matters who pays it. It is only the deduction where that comes into play. | |
| 21 February 2008 | |
| Take the credit.
quickfinder references letter ruling 200236001 doesn't matter if parent or student paid it. but if dad took dependency then student would not be allowed to claim even if student paid. | |
| 21 February 2008 | |
| The Tin recently helped me out on this so I wanted to pass it on. D&T is correct. For ed deduction who paid is relevant. For credit it is not. | |
