Tax Deductions and Credits for Education

With all of the money you spend on education, don’t you think you should get some of it back? In a way, you can. There are a number of education deductions and credits for which you can get money back. However, if both a student and parent contribute to the student’s education, and the student is a dependent (for tax purposes), only one may claim a credit or deduction. As with all of these tips, make sure that you qualify before claiming anything on your taxes this year.

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