Tuition & Fees Deduction

Line 27

If you or your dependents took college classes in 2004, you can choose to deduct the tuition and school fees you paid. Alternatively, you can take the Hope or Lifetime Learning tax credits.

Add up your expenses for tuition, registration fees, and other required fees. Do not include the cost of books, supplies, software, room and board, or other miscellaneous expenses for schooling.

The maximum amount of tuition and fees you can claim is $4,000 per year. If your income is over $65,000 or over $130,000 (married filing joint), then the maximum amount you can deduct is $2,000.

Put the lower of your actual tuition and fees or the maximum on Line 27.

Back to Step 5: Adjustments to Income