What education-related expenses can I deduct on my taxes?
An example of an AI chatbot conversation about deductions for education-related expenses.
What education-related expenses can I deduct on my taxes?
You can deduct expenses like tuition, fees, books, supplies, and certain equipment required for your courses.
Are there any limits on how much I can deduct?
Yes, there are limits based on your income and the type of education. For example, the American Opportunity Credit allows up to $2,500.
What if I took online courses?
Online courses can also qualify for deductions, as long as they are part of a degree program or improve your skills.
How do I claim these deductions on my tax return?
You typically report these deductions on Form 8863 for education credits or directly on your tax return for other deductions.
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