Tax Benefits For Education 2018

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You may be able to deduct qualified education expenses paid during the year for yourself, your spouse or your dependent. The qualified expenses must be for higher education. The tuition and fees deduction can reduce the amount of your income subject to tax by up to $4,000..Educational ins.ution 's EIN required. To claim the American opportunity credit, you must provide the educational ins.ution 's employer identification number EIN on your Form 8863. You should be able to obtain this information from Form 1098-T or the educational ins.ution. See chapter 2 . Form 8862 may be required..

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