Can i deduct education expenses for my child

Note also that this is an above-the-line deduction. Independent students and parents can qualify for the AOTC if they paid for qualified education expenses used for undergraduate courses. The LLC, on the other hand, is a nonrefundable tax credit. Our representative will get in touch with you shortly. Updated on : Oct 04, - PM. To promote higher literacy rate and the education of children in India, there are a number of tax benefits which a person can make use of for reducing their taxable income.

The government of India allows tax breaks and income tax exemption on the tuition fees paid by the individual for their children. For some salaried individuals, payment of education or school tuition fees for children can be part of their salary structure. A parent can claim a deduction on the amount paid as tuition fees to a university, college, school or any other educational institution.

Where Is My Refund? How to Check Refund Status efile. Mailing Addresses Contact eFile. Sign In Start Now. Student Expense in Tuition and fees. Computers and related equipment and services i. Join Taxesfaction! More eFiler Reviews. Why Choose eFile. TaxTalk With Tess. Prepare and eFile your Tax Returns on eFile. Got Questions? Contact us now Continue Cancel. You may also be able to avoid paying tax on some or all of your scholarship money.

Other Potential Tax Deductions If your school offers child care services outside of school hours, such as daycare before and after school for the convenience for working parents, you may be able to deduct some of the cost of that care via the Child and Dependent Care Credit. To qualify, you must pay child care costs separate from tuition and other expenses.

For the tax year: The American Rescue Plan brings significant changes to the amount and way that the child and dependent care tax credit can be claimed.

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