Comments on: Can I itemize my dependent childrens college tuition on my taxes ?

By: Hallo

Hallo — Tue, 27 Jul 2010 01:22:53 +0000

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By: tro

tro — Tue, 27 Jul 2010 00:55:06 +0000

these are used in the education credits, Hope, Lifetime and the new American Opportunity credit
they are not itemized deductions they are credits right after your Gross income total

By: Max Hoopla

Max Hoopla — Tue, 27 Jul 2010 00:02:49 +0000

It is not a 1099, it is a 1098-T. Complete Form 8863, Education Credits and put the result on Line 49 of Form 1040.

By: TeamTurboTax

TeamTurboTax — Mon, 26 Jul 2010 23:09:13 +0000

Yes, if claimed as dependents, you claim the tuition benefits on your taxes. If they qualify for the American Opportunity Credit, you can also claim their textbooks as course materials.

From IRS pub 970
Expenses paid by dependent. If you claim an exemption on your tax return for an eligible student who is your dependent, treat any expenses paid (or deemed paid) by your dependent as if you had paid them. Include these expenses when figuring the amount of your education credit.