John M. Hoffman & Associates CPAs

Frequently Asked Tax Questions

Education Deductions and Credits

 

"What defines a qualified educational institution?"

A qualified educational institution is defined as any postsecondary educational institution eligible to participate in a student aid program administered by the Department of Education.

"Does room and board count as qualified tuition expense?"

No. Qualified tuition does not include room and board, does not include books unless required for enrollment, student health fees or transportation. Qualified tuition is generally tuition.

Don’t forget that you can not double dip on these deductions and credits, meaning that if you use certain expenses for one tax benefit item, you can not use the same dollars for a different benefit.