Education-Related Tax Changes | |
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Education Savings Bond Exclusion Modified adjusted gross income phaseout amounts have increased for 2008 and 2009. Expanded Definition of Qualified Expenses for Qualified Tuition Programs For tax years 2009 and 2010, the definition of qualified higher education expenses is expanded. Hope and Lifetime Learning Credits The amount of the education credits and the income phaseout limits have increased for 2008. The Hope Credit has been expanded for 2009 and 2010. Student Loan Interest Deduction For 2008 and 2009, the modified adjusted gross income phaseout amounts have increased. Tuition and Fees Deduction To claim the tuition and fees deduction, you must complete Form 8917, Tuition and Fees Deduction, and file it with Form 1040 or Form 1040A. |
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Page Last Reviewed or Updated: May 06, 2009