Form 8917 MS 2019-2025

Form 8917 MS: What You Should Know

Tuition and Fees Deduction — IRS? Your taxable income is limited to a threshold amount based on your filing status, family size and tax filing status, and education expense. In general, if income is less than the amount subject to the deduction, there is no deduction for educational contributions in excess of the tax-free limit for that year. Taxpayers can be a college student, a student on a scholarship, a member of the Armed Forces, a student in custodial care, a student with an independent housing arrangement, a student who receives some other type of education services such as tutoring, or a student who receives income while employed outside his or her home state or country but still lives in the home state. See Qualified Tuition- and Fees Deduction in Publication 1120, Tuition Deductions for Individuals, or Publication 523, Tuition & Fees, for additional information. You can claim the Tuition and Fees Deduction even if you are eligible for a tax credit, like the Lifetime Learning Credit or the American Opportunity Credit, to cover some education expenses. (See Qualified Tuition and Fees Deduction in Publication 970, Education and Related Credits, or Publication 970-EZ, Educational Credit for Dependent Children and Students, for details). Other Types of Education-Related Deduction Another important tax filing benefit for tuition and fees is the Section 529 Deduction. The Section 529 Deduction, for eligible educational expenses, is available to qualified small businesses if they either elect to have their contributions contributed without limit or elect under the Section 529 plan. Eligible educational expenses paid in 2018, 2019, or 2020, and later years are included in the gross income of eligible taxpayers and eligible families. Eligible parents and eligible children are considered eligible for the Section 529 Deduction. See Qualified Education-Related Deductions in Publication 523, Section 529, or Publication 523-EZ or 529-A. To be eligible to take the Section 529 Deduction, you must be contributing to a qualified education expense plan (or, in some cases, both qualifying parents must provide education expenses).

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