TAX TIP OF THE DAY... high school students paying college fees
The bad news... No deduction for SAT or college application fees.
The good news... High school students taking 1 or 2 college courses in their senior year can take either the Liftime Learning Credit or Tuition and Fees deduction. However, the Hope Opportunity Credit is not available. Warning: several online authorities incorrectly state that no tax benefit is allowed.
SHARE WITH A FRIEND.
If you need a tax appointment... www.baboiancpa.com