Sentences with phrase «deduct school expenses»

Louisiana also allows taxpayers to deduct the amount of their federal itemized deductions that were in excess of the federal standard deduction on their federal tax return, and to deduct school expenses for dependents who are currently in school.

Not exact matches

Room and board during school counts; however, if you used any of your student loans to fund personal expenses not related to education, you must reduce your deduction so you aren't deducting interest paid on this portion of your loans.

If you're still in school or were enrolled at a university during the tax year, you could deduct up to $ 4,000 in qualified education expenses.

Some child care, health care, and school expenses can be deducted.

While recognizing that most of the deductions were used for parochial school tuition, the Mueller Court found that because parents could deduct expenses for public, private, or religious schools, the deduction was neutral toward religion.

They allow parents to deduct private (that is, parochial and independent) school tuition and other education expenses from their state income taxes.

The Internal Revenue Service allows college students, whether they attend school full - time or not, to deduct certain expenses on their income taxes.

With this tax deduction, you can deduct either $ 2,000 or $ 4,000 which is meant to offset post-high school expenses.

Although the amount you can deduct is limited each year, you can only deduct the interest on student loans you actually use to pay school - related expenses, including your room and board.

When you prepare and efile your federal income taxes on efile.com, you might be eligible to deduct up to $ 250 of any un-reimbursed expenses as a trade, school, or business.

If you moved more than 40 km for a new job or school you can deduct those expenses.

You can deduct a portion of the interest you pay on student loans used to pay for college or other post-high school education expenses for yourself, your spouse or your dependents.