I have a question regarding education credit. If my children received student loans and scholarships, can I claim tax credit for education costs?
You can’t claim education credit for any education expense you or your dependent didn’t pay for. Student loans are considered paid by the person who’s legally liable for the loan — usually the student.
However, you can claim the education credit for expenses paid by your dependent students for these:
Since tax-free scholarships don’t have to be repaid, amounts paid for by scholarships aren’t considered paid by you or the student; therefore tax credit for education cannot be claimed.
Related Resources
Get more from your tax return and learn what tax deductions are available for home purchases with help from the tax experts at H&R Block.
Looking for information on Ohio income tax? Read here to find out who owes, how to pay and more from the experts at H&R Block.
Learn when you can deduct medical expenses to maximize your return with advice from the tax experts at H&R Block.
If you are a child care provider without a W-2, how do you file your taxes? Learn more from the tax experts at H&R Block.
