Taxes - Deduction

[peace123]

I did not claim any of the DSST exam fee's, study material used, etc, because I could not find any language in the educ tax credits or education tuition/fees deduction that fit with Clep/DSST exams. If a tax preparer is saying these exam expenses are claimable, I would ask them to cite source and document for you why they are claimable.

I also did not claim my ECE's because they were not recorded on the 1098-T I received from Excelsior .

I was not enrolled at least half time ( nor were my sons), so the Hope Scholarship and the American Opportunity credit were not an option for us. I ended up claiming the education tuition deduction for the expanses listed on the 1098-T's received by myself and my sons.

Please note, each persons situation is different, so this is why you need to make sure your tax preparer is looking at the specifications of your situation.
What is allowable for one my not be for another based on the number of courses being taken, etc.

Peace123

[mongoose65]

Oh, that makes perfect sense. What about the tuition I paid to TESC this year - even though I'm not taking a single "class" through them. Any chance my tax guy is gonna let me deduct that?

Pretty sure that is no problem since you should receive a 1098-T tax form from TESC. It is easily added as a deduction unless you are over income limits which is anybody's guess these days. If you make over $20,000 you're upper middle class to the tax man!! Only slightly exagerating. :ack:

[iCLEP2]

Will I receive a tax form from TESC for paying enrollment and graduation fees?

Also, does Straighterline and ALEKS send tax forms to students as well?

[alleycat]

I never received anything from Straighterline or Aleks for taxes.

[iCLEP2]

Thanks...did TESC send you any tax documents?

[alleycat]

You should be receive tax information from TESC. I beleive you will be able to use Straighterline and Alek as part of your tax deduction becasue they are educational costs.

[ryoder]

I got something from TESC for and I will see if I can deduct it.
These deductions phase out at certain modified AGI levels so they can be worthless to a family with two working professionals.

I fear the IRS so much that I end up not writing off many of these types of items.
I think the general culture of fear of the government is normal and they use that to their advantage to reap more tax revenue from the middle class.