Tuition and Fee Deduction: Who Qualifies and How?

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Tuition and Tax Deduction

Those facing skyrocketing college tuition bills will want to learn as much as possible about how the tuition and fee deduction can lower their tax bills. Before filing your 2004 tax return, read the Colorado Society of CPAs' responses to the most common questions about this deduction.

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WHAT IS THE TAX BENEFIT OF THE TUITION AND FEES DEDUCTION?

This deduction can reduce the amount of your income that is subject to tax by up to a maximum of $4,000 on your 2004 tax return

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