There are 3 possible ways to benefit from College tuition paid for yourself, your spouse or dependents.
You may qualify for all, some or none of them depending on your income and a couple other factors.
• Tuition and fees deduction up to $4,000 from gross income. Income limitations apply.
• The provision for deducting tuition and fees expires for tax years after 2016. (this has not been renewed for 2017)
• Student loan interest deduction up to $2,500 from gross income. Income limitations apply.
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