February 07th, 2016

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.


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If you need a tax appointment... www.baboiancpa.com