Can i deduct college application fees

A financial advisor can help you optimize a tax strategy for your education needs and goals. The deduction for tuition and fees expired on December 31, The loss of this deduction highlights how useful a college savings plan can be for saving money on college expenses.

You could get this tax break if you covered the cost of those qualified education expenses for a college student such as yourself, one of your dependents as long as no one else claims the dependent on their taxes or your spouse. Qualified education expenses include tuition and other fees that students are obligated to pay in order to attend a particular institution. There are no changes to the Lifetime Learning Credit for the tax season. You cannot claim both credits for the same student in the same year.

These include transportation, room and board, medical expenses, insurance, and fees not required for attendance or enrollment. Share It. Internal Revenue Service. United States Congress. Average cost of home insurance. How to shop for car insurance. Best savings accounts. Best checking accounts. Best CD rates. Best money-market accounts. Best high-yield savings accounts.

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