Home Page link  

deducting education costs

 

Taxes General Forum - Tax professionals meeting place and answers to queries. (Moderated)

 Post an article  get this group's latest topics as an RSS feed add this group's latest topics to your My MSN content add this group's latest topics to your My Yahoo content  add this group's latest topics to your Google content  YahooMyWeb Yahoo!  Google Google  Windows Live Favorites Windows Live  del.icio.us del.icio.us  digg digg  Add to Netscape Netscape
Subject Author Date
deducting education costs Jeff 03-24-2008
Posted by Jeff on March 24, 2008, 10:55 pm
Please log in for more thread options
Paul Thomas, CPA wrote:
>> Paul Thomas, CPA wrote:
>>>> In 2007, I paid the college costs of a child who is no longer my
>>>> dependent and has not been my dependent for several years. I
>>>> believe I can still deduct those tuition costs which I paid by
>>>> check directly to the University.
>>>>
>>>> Is that correct?
>>>
>>> Nope. It's not deductible tuition, nor is it elgible for any
>>> education tax credits.....for you.
>>>
>>> The education tax credit stays with the student, so amounts you pay
>>> ~may~ be used by the student, if they file their own returns and
>>> claim themselves.
>
>> Ah. I must have had it mixed up with medical expenses. I beleive
>> medical expenses are deductible even if paid for a non dependent.
>> Correct?
>
> If the person meets all the other criteria, except for the income
> limitations, or they are claimed by the other parent, then any medical
> expenses paid on their behalf would count as medical on your Schedule
> A.
Thank you and thank you for taking the time to reply.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by removeps-groups@yahoo.com on March 25, 2008, 4:45 pm
Please log in for more thread options
wrote:

> If the person meets all the other criteria, except for the income
> limitations, or they are claimed by the other parent, then any medical
> expenses paid on their behalf would count as medical on your Schedule A.

Where is the above quote from?

http://www.irs.gov/publications/p502/ar02.html#d0e318

says you can only deduct medical expenses for your dependent (although
children of divorced or seperated parents are considered dependents of
both parents for the purpose of this deduction).

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Phil Marti on March 25, 2008, 5:20 pm
Please log in for more thread options

http://www.irs.gov/publications/p502/ar02.html#d0e318
>
> says you can only deduct medical expenses for your dependent (although
> children of divorced or seperated parents are considered dependents of
> both parents for the purpose of this deduction).

You stopped reading too soon. Pub 502 goes on to say that a "dependent" is
either a qualifying child or a qualifying relative. Keep reading to the
section on qualifying relative and you'll learn that for this purpose a
qualifying relative is as previously described.

--
Phil Marti
Clarksburg, MD

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Similar ThreadsPosted
Deducting Points March 3, 2007, 4:29 am
E Filing Costs April 14, 2006, 3:45 am
Campaign Costs June 20, 2008, 3:52 pm
Deducting travel expenses October 25, 2006, 6:46 pm
LLC: Many costs but construction not begun. January 18, 2007, 3:42 am
Closing Costs & what line February 8, 2007, 11:51 pm
Deducting state taxes March 23, 2007, 6:31 am
local transportation costs April 12, 2007, 12:06 am
Deducting moving expenses? May 9, 2007, 3:54 pm
deducting the Florida intangible tax November 1, 2007, 12:30 am

Contact Us | Privacy Policy
This site is not affiliated with Intuit - makers of Quickbooks and Quicken software
This site is not affiliated with Sage Software - makers of Peachtree accounting software
XML SitemapXML Sitemap