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Education Expense

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Education Expense
For tax purposes, an education expense is an expense that is eligible for a tax deduction or credit. Education benefits include the Hope and lifetime learning credits and the deduction for business-related education expenses.


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The Court relied on the Supreme Court's prior ruling in Florida Prepaid Postsecondary Education Expense Board v.
Funds may be used to consolidate debts, remodel your home, take a nice vacation, or pay for a child''s education expense.
A taxpayer claiming both an Archer MSA deduction and an education expense adjustment would write in the letter "B," for "both," it says.
 
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