College Expenses - Tom??

[Unregistered]

I have 2 questions regarding taxes for college classes.

1. I have been taking classes to get my assoc. in Early childhood. Not going to seek another job, just want to keep doing day care at home and want to stay educated. Can I deduct my college expenses as business?? What about mileage to and from classes?

2. My son is in college and we pay about $15,000 out of pocket a year to his college. I ahve done the American Op. tax Credit of $2500, but can we do anything with the rest that we pay on our tax forms?? My husband seems to think we can, but we didn't last year. He has a friend that says you can deduct everything for college......


Can you help Tom?? Anyone??

[Michael]

I wouldn't be calling on Tom as an unregistered poster.

Consider registering: https://www.daycare.com/forum/register.php

[TomCopeland]

College Expenses

I have 2 questions regarding taxes for college classes.

1. I have been taking classes to get my assoc. in Early childhood. Not going to seek another job, just want to keep doing day care at home and want to stay educated. Can I deduct my college expenses as business?? What about mileage to and from classes?

2. My son is in college and we pay about $15,000 out of pocket a year to his college. I ahve done the American Op. tax Credit of $2500, but can we do anything with the rest that we pay on our tax forms?? My husband seems to think we can, but we didn't last year. He has a friend that says you can deduct everything for college......


Can you help Tom?? Anyone??

1. If you don't have a post secondary degree then you can't deduct the cost of these classes to get your associate degree. And therefore you can't deduct the mileage or books or the time you spend in your home doing homework. If you already have a post secondary degree then you can deduct everything and count the hours.

2. I'm not aware of any other tax credits you can claim for your son other than what you mention. This is not my area of expertise, so I may be wrong. Check with your state department of revenue to see if you can get a state tax credit.

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