As the cost of higher education continues to rise, many college students can use all the financial breaks they can get.
One source of assistance: the federal tax code, which has a tuition and fees deduction as well as tax credits for higher education.
A variety of websites feature information about various federal tax benefits for students. Here are a few where you can learn more:
Efile.com: Provides a wide range of information about various education tax credits and deductions; www.efile.com/student-tax/.
CollegeBoard: Spotlights the breaks associated with college tuition tax credits; tinyurl.com/7h3mz3e.
Federal tax credits: Covers rules associated with education credits; tinyurl.com/79lwltt.
Internal Revenue Service: Serves up details on the two key federal tax education credits: The American Opportunity Credit and Lifetime Learning Credit; www.irs.gov/publications/p17/ch34.html.
UncleFed’s Tax Board: Highlights education and work-related expense deductions; tinyurl.com/6rlkz4k.
Chuck Myers
McClatchy-Tribune News Service
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