Education Tax Benefits (2 hrs)

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Course Description

Education Tax Benefits

Today taxpayers must plan for their children’s education. Touching on various topics such as qualified tuition programs (QTPs), scholarships, and fellowships, this education tax benefits mini-course examines the tax treatment of costs related to education. Practitioners will learn the ins and outs of the tax benefits concerning education and will be able to identify those educational expenses that are deductible. Additionally, financial planning strategies and techniques are outlined to better prepare taxpayers for future educational costs.

Course Information

Price: $24
This course is included in our Mega CPE Subscription and our Unlimited Tax Bundle.

Course No. M020
Format: Online pdf (62 pages). Printed book available.
Prerequisites: General understanding of federal income taxation
Advance Preparation:None
Level: Overview
CPE Credit: 2 hrs.
Field of Study: Taxes: Technical
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: January 2024


Upon completion of this course you should be able to:

1. Identify deductible education expenses and travel costs under the requirements of §162.
2. Determine the qualified credit amounts under the HOPE (“American Opportunity”) Credit and the requirements of Coverdell education savings accounts.
3. Identify the deductible amount to claim for §221 student loan interest and recognize the permissible benefits of §529 qualified tuition programs.
4. Specify the tax-free benefits of §117 scholarships and fellowships and who is eligible for a §132 qualified tuition reduction.
5. Identify educational incentives and financial aid requirements to meet college funding needs.

Study Topics:

* Work-related educational expenses

* Educational expense credits

* Education savings accounts

* Deduction for student loan interest

* Qualified tuition programs

* Higher education expense deduction

* IRA withdrawals for education expenses

* Scholarships & fellowships

* Educational savings bonds

* Educational incentives & financial aid

Ratings and Reviews

Avg. Rating
2 Ratings
What's your experience? We'd love to know!
Patricia Hynes
Posted 4 months ago
I would like to see the answer to the question I answered incorrect

The course is not complete without identifying the area in which the student did not get the correct answer

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Posted 4 months ago

Thank you for your comments. I have sent you an email with the answer to the question you missed. I am always happy to send corrected answers to completed exams. Unfortunately, it’s not an automated service and you have to request the feedback.

Terri Washburn
Posted 5 months ago
Efficient Effective Summary of Education Tax Benefits

Well written and comprehensive text with concrete examples.

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