The readership here is heavy on those completing school for the first time and going back to school to further their education. So I’ve updated this post to reflect the 2019 tax year (2020 tax return), post tax-reform.
The good news is that if you’re paying for school (for yourself or others), there are a many education tax credits and deductions available to you – some of which were recently retroactively and permanently extended as part of the tax extender legislation in a previous Congressional budget deal.
A few years back, Mrs. 20SF returned to school to complete a post-secondary accelerated nursing degree program, without any government or other assistance. While comparatively inexpensive – she went the community college route – it was still a big out of pocket cost.
During that time, I thoroughly researched the various education tax credits and deductions available to us and have shared a