Education Tax Tips

You may be able to claim the American Opportunity Credit of up to $2,500 (up to $1,000 may be refundable) for qualified tuition and related expenses for each eligible student in the first 4 years of postsecondary education at a qualified institution.

You may be able to claim the Lifetime Learning Credit of up to $2,000 for qualified tuition and related expenses paid for a qualified individual(s) at an eligible educational institution.

For each child under age 18, you may be eligible to contribute up to $2,000 a year to a Coverdell education savings account