Education Expense

Qualified Higher Education Expense

Tuition and related expenses that one pays to a university, college, technical school, or other post-secondary institution. Most of the time, qualified higher education expenses are tax deductible, and one may also be able to deduct the interest on savings bonds if the proceeds are used to pay for these expenses. See also: 529.

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.
References in periodicals archive ?
A popular savings vehicle for parents who are planning for their kids' college education expense is the 529 Plan.
Adding computers (which all students need) as a higher education expense and making the programs more flexible will make 529 plans even more appealing to American families.
The taxpayer has many choices, but may not claim more than one benefit for the same education expense.
Tuition for primary or secondary school education is neither deductible as an education expense, nor as a charitable contribution.
Families using a tax-advantaged 529 college savings plan to pay for college may now count the purchase of a computer for a beneficiary college student as a qualified education expense.
Only 6 percent of respondents did not use credit cards at all for a direct education expense.
Account owners of tax-advantaged 529 college savings plans will be able to count the purchase of a computer for a beneficiary college student as a qualified education expense in 2009.
The recipients will each be presented with a $2,000 check during their first semester in college, trade or technical school which can be used for any post- secondary education expense.
If you fund a 529, then need the money back for other than qualified education expense, not only will the withdrawal of earnings be taxed in your bracket, but a 10 percent penalty will be imposed.
MUZAFFARABAD -- The International Fund established by a renowned Pakistani girl Malala Yousafzai, for raising girls literacy and education in Pakistan, has decided to finance education expenses of poor children in Azad Kashmir as well, said UNESCO representative.
Minister Bou Saab said in a statement on the occasion that "the flow of displaced students to public schools reflects the large number of displaced people which goes way beyond Lebanon's ability to cover their education expenses," stressing the difficulty to finance the education of such a number.
LAHORE -- Provincial Minister for Labour and Human Resources Raja Ashfaq Sarwar has said the Punjab government is bearing admission and other education expenses of talented children of industrial workers.

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