Taxes Q & A- If I pay college tuition and fees - E-PersonalFinance

If I pay college tuition and fees with a scholarship, can I claim an education tax credit on Form 8863 for those payments?

No. You cannot claim a credit for the amount of higher education expenses paid for by tax-free scholarships.

References:

Publication 970, Tax Benefits for Education
Tax Topic 605, Education Credits
Tax Topic 421, Scholarship and Fellowship Grants
Form 8863 (PDF), Education Credits (Hope and Lifetime Learning Credits)

Related Answers

Is the money received from the sale of inherited property considered taxable income?
Should I advise the IRS why amounts reported on Form 1099-B do not agree with my Schedule D for proceeds from short sales of stock not closed by the end of year?
Do I need to change my maiden name to my married name on my social security card for us to file jointly?
What are the limits for claiming a tax deduction for interest paid on a student loan?
Is child support considered income when calculating the earned income credit?
All Answers

More Resources

Personal Finance Answers categories Why search the Web, when you can go straight to the best.

Question & Answers

Questions & Answers

What home-buying costs are deductible?

Any points you or the seller pay to purchase your...Read More

Quizzes

Quizzes

Hundreds of Investing & Finance Quizzes, Including

Word of the Day

Word of the Day

Property Tax

"Property tax" is a tax imposed by a state, city or municipality on real property...

Read more