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Private & Independent Schools
Reply to "Are there any Tax Deductions for Private school?"
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[quote=Anonymous][quote]Maybe that person, who seems a little ignorant, is confusing college tuition with tax-preferred college savings plans like 529 plans?[/quote] I imagine this person is referring to the tuition and fees deduction, which allows you to deduct some amount of the income used towards tuition and fees, and is phased out at incomes that are often discussed at this board (160K joint or something like that?). There is also the American Opportunity tax credit and Lifetime learning tax credit, but I believe those would also be phased out at incomes frequently discussed on this board as well. They also tend to be less relevant for people who use savings plans like 529s, but I'm not 100% sure of the details.[/quote]
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